Posted on: 13th Sep, 2012 06:34 pm
Does a gift of equity have to be payed back to the giver
Hello Doona Linck,
Lenders generally don't have a problem with these types of loans if the loan program is specifically designed to accept such gifts and grants and follows the requirements that guide them.
:idea:
Lenders generally don't have a problem with these types of loans if the loan program is specifically designed to accept such gifts and grants and follows the requirements that guide them.
:idea:
Hi Doona!
Welcome to forums!
As it is a gift, you won't be liable to pay it back. The donor of the gift of equity won't ask you to give it back.
@Sabrina...
Did not understand what you actually wanted to say!! I don't think your answer is relevant to the poster's query!!
Sussane
Welcome to forums!
As it is a gift, you won't be liable to pay it back. The donor of the gift of equity won't ask you to give it back.
@Sabrina...
Did not understand what you actually wanted to say!! I don't think your answer is relevant to the poster's query!!
Sussane
If someone gifts you something out of love and affection and in the form of a gift deed, then you are not obliged to repay it.
Moreover, you can use the gift deed for tax-saving purposes.