REAL ESTATE & retained life estate
Legacy gifts of Real Estate and Retained Life Estates ensure local Jewish continuity for years to come. You can leave a commercial or residential property, from a single-family home to an apartment building.
Leaving a piece of real property to Chabad of Solano County can reduce your overall tax obligation and help secure the future of our Center for Jewish Life.
· If you want to donate your residence, but still stay in the home for the rest of your life, please consider a retained life estate.
Retained Life Estate
A retained life estate is a strategy that allows you to donate a home to Chabad of Solano County while retaining the right to live in it for the rest of your life.
· You can transfer your property’s title to Chabad of Solano County, and reserve a life estate. In this scenario, you no longer own the property, but you have the right to use and occupy it for the rest of your life. You continue to live on your property for as long as you want. You are responsible for expenses such as maintenance fees, insurance, property taxes, and repairs. You benefit by knowing your property or vacation home will ensure a Jewish legacy.
· Upon your passing, the life estate is extinguished, and the property is owned free and clear by Chabad of Solano County. The need for probate is thus avoided.
