Learn To Write Real Estate Gift Letter Forms

Learn to write Gift Letter

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Learn to write Gift Letter

You might sometimes need monetary help from family members to pay down payment for real estate purchase. The banks will require you to furnish a written document showing the money received is a gift and not a loan. They want to make sure that the money received will not add to your debt obligations. For this purpose you’ll need to produce a Real Estate Gift Letter Form.

Things to include in the form:

The lender’s name and address
Date of gifting
Name of recipient(s)
Relationship between donor(s) and recipient(s)
Address of the property for which the gift amount will be used to purchase
A clear declaration that the money gifted is not a loan and is not intended to be repaid

The following sample of Real Estate Gift Letter Forms may be followed.

To Whomsoever It May Concern:

We [names of person(s) gifting the money] hereby certify that we have made [or will make, on a stated date] a gift of $[amount of money gifted] to [names of recipients], our [child, sibling, grandchild, or other relationship between recipients and lenders], to be applied toward the purchase of the property located at [address of property].

No repayment of this gift is expected or implied either in the form of cash or future services.

[Sign of gifting person(s) and date]

You should also be prepared with the following things to be on the safer side for any legal issues.

A copy of the bank account statements of donors to show origin of gifts
A copy of the gift check or online transaction slip
A copy of bank statement of recipient to show actual transfer of the gift amount