Residual Interest

A gift of residual interest is made when you decide to give the property in which you reside or any other property (art, valuables etc.) to a charitable organization of your choice but would like to continue to use and enjoy the property throughout your lifetime. When the gift is made, you will receive a charitable tax receipt for the present value of the charity’s residual interest. Upon death, the charity would use the proceeds from the property to support its charitable activities.