Legal Question in Real Estate Law in Virginia

What is a charity organization receives donated property worth $7 million, what are the rules for selling the donated property? How soon can the property be sold and can it be sold for an amount less than the donated value?

Asked on 2/01/12, 6:12 pm

1 Answer from Attorneys

Michael E. Hendrickson Attorney & Counsellor at Law

This charity would seem well advised to consult with its tax

attorney/adviser who regularly advises it on tax or other

legal matters and who should be in a far better

position with respect to his or her knowledge of the numerous relevant factors that might be applicable to this situation than anyone in this forum might be in answering this question.

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Answered on 2/02/12, 8:41 am

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