Description: Land, and buildings or other structures permanently attached to land.
Examples: A family home, a cottage, or a vacant piece of land.
The value of real property for tax receipt purposes is its fair market value. You should almost always get an appraisal or valuation from a professional real estate appraiser to support the gift.
Real property located in Canada is not subject to the deemed fair market value rule, but property outside Canada is.
Special case: For gifts of ecologically sensitive land, you should refer to the Canadian Ecological Gifts Program.