A residual interest allows you to donate an asset today (personal residence, work of art, investment property) but enjoy the use of it during your lifetime. The Mount, then becomes the full owner and
may either keep the property or sell it and use the proceeds.
Donations of a residual interest are irrevocable. The property must reside with the Mount at the time of transfer.
The value of the tax receipt is based on the market value of the property at the time of transfer, the applicable discount rate and life expectancy.
Benefits• Donor continues to use the property
• A tax receipt is issued for present value of
• The gift is not subject to probate