In some cases, the Land Bank may be able to accept donated property with reuse potential to make it available to another citizen or investor for rehab and reuse.
Property owners, the Montgomery County Land Bank may be able to help you find a solution to your real estate problem through our Donation Program. Under certain conditions, we can accept donations of properties with reuse potential for one of our programs, making them available for other citizens and investors to buy, rehab and reuse. Residential, commercial and even REO properties may qualify.
This Land Bank program helps property owners to responsibly resolve their real estate issues and supports communities’ efforts to stabilize neighborhoods by avoiding foreclosures and home vacancies.
Property Donation May Offer Tax Benefits
If you’re a donor, the primary benefit to you is relief from tax liability and maintenance responsibilities. In some circumstances, the donation may also be considered a non‐cash charitable contribution. (Check with your tax adviser.)
The Land Bank can only accept donated properties for which an end use can be determined. If the property has reuse potential, it may be added to our DIY Renovation property listing. Another option is for the local government to add it to its demolition program.
Here are conditions that must be met for the Land Bank to accept your property donation:
- The title must be clean and marketable.
- The property may not have any judgment liens or other encumbrances such as mortgages, unpaid utility bills, state or federal income tax liens, among others.
- The property must be free of environmental hazards.
- The donor may be required to obtain title work or pay outstanding title work costs prior to transfer of the title.
The Land Bank reserves the right to deny any property donations.
Interested in exploring a property donation with us? Get in touch and let’s discuss your options.
Residential donations require a Donation Questionnaire to be submitted for consideration.