Appreciated property is the real, personal, or intangible assets having a fair market value greater than their original cost. Additionally, the appreciated property has got adjusted tax basis or book value. Appreciated property includes real estate, classic automobiles, works of art, investments or stocks. Shifting appreciated assets to relatives can be a way to benefit adult children, parents or other relatives while saving money in taxes. Appreciated property can provide a tax deduction, without liability for having to pay capital gains taxes on appreciation in value. Moreover, one can donate while retaining a life interest in and use of the property.