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“Donation of Property” How Long Does The “Real Estate Donation” Process Typically Last?
The donation process can last anywhere from a few weeks to a few months. It is largely dependent upon the type of real estate being donated. If the property is a typical single family residence the process can be relatively quick but if the property is a commercial building, industrial building, apartment building or a tract of vacant land it can take a little while longer.
The first thing that is done is that the donor signs documents showing their intent to donate. They must also disclose any liens or encumbrances on the property; taxes, water bills, special assessments, first mortgages and any junior liens. Once the documents are signed the charity will have a predetermined due diligence period to determine if the property is one that they would be willing to receive as a donation.
During the due diligence period the charity will have a physical inspection done on the property, typically by a local real estate professional. They will have a title search done to determine if the donors are actually the owners of the property and to make sure they have an interest in the property to donate. They will also have to get a determination of marketability ... more

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