Gift of Equity - Posted by Jason Cacciatore

Posted by William Bronchick on May 22, 2000 at 11:27:17:

A gift of equity is just a relative agreeing to give you part of the property free. Your parents can gift $20,000 of equity without tax consequence.

Gift of Equity - Posted by Jason Cacciatore

Posted by Jason Cacciatore on May 21, 2000 at 22:17:27:

What is a gift of equity. MY mortgage broker suggested this since I am buying my parents house. I can not find any thing on this any place. Please help me understand