Life Estate Reserved
You may want to leave your home or farm to PSU at your death, but would like to receive a current charitable eduction. A life estate reserved might offer the solution you need.
How a Life Estate Works
You can deed your home or farm to PSU but keep the right to use the property for the rest of your life. You will be able to make a current gift to us and maintain use of your home or farm.
- You may receive a current charitable deduction for the present value of the remainder interest in your home or farm.
- You preserve your lifetime use and are able to use and control the home or farm while you are alive.
- The life estate can last for your life or your life and another person's life.
- You can make a gift of your property even if there is a mortgage.
- You are responsible for the maintenance, insurance and taxes on the property.