Posted on: 13th Nov, 2010 12:14 pm
i have been helping my daughter for the past dozen years by paying 1/3rd of the mortgage, and i am on her loan and deed. she is going to refinance in her name alone and i want to make a gift to her of the equity that would otherwise be mine. how do i do that? with a simple gift letter transfering the equity to her and waiving any claim to the equity?
Hi eliotb,
As far as I know, you will have to write a gift of equity letter in order to transfer the equity to your daughter. You can check out the given page in order to know more in this regard:
http://www.mortgagefit.com/predeal/giftequity.html
Thanks
As far as I know, you will have to write a gift of equity letter in order to transfer the equity to your daughter. You can check out the given page in order to know more in this regard:
http://www.mortgagefit.com/predeal/giftequity.html
Thanks