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Stark Community Foundation
Real Estate Check List

I. General Information

Donor(s) Name:                                                                                                                      

SSN(s) or TIN: ___________________________________________________________

Street Address:                                                                                                                        

Mail Address: ____________________________________________________________

City: ____________________________  State _______  Zip ______________________

Phone Number: (Home)                                         (Business)                                                  

Email _________________________Cell ____________________ FAX ___________

Location of Property:                                                                                                               

Type of Property:                                                                                                                    

Is property held as commercial inventory? _____________________________________

Parcel No. and Owners of Record:                                                                                          

Ownership: Circle One:                                1) Sole          2) Joint          3) General Partnership

                                                                 4) LLC       5) Corporation

Does the Ownership Include Mineral Rights, Development Rights, Easements, Covenants, Conservation Easements, or Rights of Way, etc.?                                                                                          

Legal Description (land and buildings):                                                                                      

Any Impending Litigation With Regard to the Property?                                                            

Valuation and Date of Most Recent Appraisal:                                                                         

Annual Property Taxes:                                                                                                                        

Fees (association fees, sewer, water or other operating costs):                                                  

Are There Any Liens, Encumbrances, Mortgages, etc.?                                                            

Status This Year's Taxes and Holding Costs (including delinquent fees):                                    

Donor's Basis/Cost of Property(s) and Date of Purchase(s):                                                     

Market review with real estate agent's report: ___________________________________

Estimated Time Required to Sell the Asset:                                                                               

Has the Property Been the Subject of Any Regulatory Designations (such as wetland or road easement)?  If So, List Type of Designation and Regulatory

Agency:                                                                                                                                   

Proposed Delivery Date of Deed:                                                                                             

Date of Physical Inspection of Property:                                                                                   

   Person who inspected with notes: _________________________

Sections II through VIII, enter date when the information is obtained.

II. Documents from Donor

Date:

_____ Appraisal:                                                                                                                   

Must be ordered, paid for and submitted within 60 days      

of deed delivery.                                                                                 

_____ Deed:                                                                                                                          

Shows how title is vested and is used to prepare the title transfer.   

_____ Title Insurance:

The donor's title insurance will reveal only rights that were impacted                          

before the donor purchased the property.                                         

_____ Property Tax Bill:                  

Shows assessed value of land, improvements, actual tax and

any assessments                                                                                 

_____ Income/Expense Pro Forma For Three-Year Period:                                              

If commercial income-producing property.                                       

_____ Resolution:

Corporate or partnership resolution is needed to show that a governing

body has agreed to donate the property and has authorized an officer

to sign on its behalf.                                                                                       

_____ Association Agreement:

Ownership rights and responsibilities of some properties, primarily residential

 or condominiums are governed by an owners association.  The agreement

should include fees or assessments, together with a statement

showing the condition of any reserve fund for deferred maintenance.                           

_____ Conditions, Covenants and Restrictions:

Conditions, covenants and restrictions are required of most subdivisions.

A copy of these will show how the property may be used and what

restrictions may apply. A copy of the master agreement. A letter from

the association verifying the status of fees and assessments.            

_____ Lease or Rental Agreements:

If the property is leased or rented to others, a copy of each rental

agreement should be obtained showing the terms of the agreement

 term of rental, deposits, etc.                                                             

Date:

  _____ Notes and Trust Deeds or Mortgages:

If the property is leased or rented to others, a copy of each rental

agreement should be obtained showing the terms of the agreement,

term of rental, deposits, etc.                                                              

_____ Current Mortgage Statement:

Will show the current status of a loan and will be helpful in

identifying and discussing the loan with the lender.                          

_____ Insurance Policy:

Will verify cost of Insurance and provide information for the

Foundation to transfer insurance, if desired, after gift is made.       

_____ Plot Map, Parcel Number, and Survey:

This indicates location of property and is an important step in

acquiring much of the information for gift analysis.                         

_____ Inspection Reports:

Where inspection reports are available from previous activity related

to the property, such a Code Officers, inspection reports or

structural assessment reports by an engineer.                                   

_____ Fund Agreement:

Outline of donor's charitable interest.                                               

_____ Donor Transfer Agreement:

Must use Foundation approved agreement form (if appropriate

depending on type of gift).  The agreement should be drafted

with legal counsel help to meet the needs of each gift.

_____Uniform Disclosure for Residential or Commercial Property. Form completed and signed by donor.