Law Commons^™

Repairing Facade Easements: Is This The Gift That Launched A Thousand Deductions?, Martha Jordan

Akron Tax Journal

This article explores the impact of such a covenant on the characterization for tax purposes of expenditures to maintain the façade. In particular this article explores the following question: Given that the charitable easement holder owns a nonpossessory interest in the façade, which imposes on the charity an obligation to repair and maintain the façade and entitles it to benefit from increases in the value of the façade, is a donor's assumption of the charity's obligation to repair the façade an additional charitable contribution to the charity? If a donor gratuitously makes improvements to property owned outright by a charity, …