Remainder Interests In A Residence Or Farm


Definition of "Remainder interests in a residence or farm"

Donald A. Miller real estate agent
Donald A. Miller, Real Estate Agent Home Buyers Marketing II, Inc.

Charitable planning strategy under which a donor transfers title to his or her residence or farm to the charity. Upon transfer of title, the donor reserves the right to occupy the property as well as enjoy all the other benefits of property ownership for life, for a specified number of years, or for the life of a given number of tenants. A partial donation of the property may be made; the property does not have to be donated as a whole unit.

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