@fpc
What, exactly, is the goal here? Do you want the property to go to a relative for that relative's own personal use (or some other use but still owned by the relative/donee)?
Otherwise, you could sell the property (reduce it to cash) and simply make a deposit in a joint bank account with your wife. Thereafter, you could gift cash to the donee, either in full or within the annual exclusion.
There are most likely other strategies available but the objective is unclear.
