Some alumni and friends are in a position to consider donating real estate to Ohio Northern University. If you have a highly marketable property that you would like to donate it to the university, there are several ways of completing this gift.

Outright Gift of Real Estate

If you would like to donate a home, farm, or commercial property to ONU, the property would be deeded to the university and subsequently sold. The donor receives an immediate income tax deduction for the appraised value of the property. Please note: you must agree to obtain the appraisal.

Retained Life Tenancy

In this case, ownership of the property is transferred to ONU, but you retain the right to live in your home for your lifetime. The university will take full possession of the real estate and sell it when you vacate the residence. Please note: You will be asked to bear the cost of the appraisal and upkeep of the property while residing in the residence.

A Trust Funded with Real Estate

If you would like to deed property to a charitable remainder trust, with the understanding that the property will be sold and the proceeds used to fund the trust, income will be generated for you and your designated beneficiaries for life or a fixed term. Please refer to the charitable remainder trust description for more detail information.