“This is a rarity,” said Patricia Harriman, spokeswoman for the foundation. “However, gifts of real estate are a smart way for donors to support the University and bypass capital gains taxes.” The money from the home sale will be invested to make sure graduate fellowships are “perpetually available as Dr. [Christian] Werner intended,” Harriman said.

For the full story, please visit https://www.ocregister.com/2018/11/27/uc-irvine-selling-ocean-view-laguna-beach-house-a-gift-from-professor-for-2-29-million/.

 

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