Gift Letter for Buyer from Family Member-Lease Options

A gift letter will help you prove your funds

When you are to buy a property in your name there is one main hurdle to stop you from making the purchase and that is of money. The finances are very hard to arrange and this is the time when your family may step in a give you the required push by giving you the required money to make the purchase. Generally in a family no one expects you to give back the money but when you are to pay the income tax return you will have to show where the money came from. If you fail to do so the government may take action against you.

Therefore you need to procure a gift letter for buyer from the family member who is donating the money to you or in other words giving you the money as gift with no intention of asking it back.

The contents of the gift letter

The gift letter contains

• The certificate stating that the money that is being given to is being given as gift and the donor does not want any repayment of any kind from you
• The sum of money being given should be mentioned
• The name of the recipient should be clearly mentioned
• The name of the donor must be clearly stated
• The contact details of the donor must be mentioned
• A certificate by the recipient stating that the money has been received along with the account number in which he transfer was made
• The name and signature of the recipient with date

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Sample Template Preview

GIFT LETTER

TO WHOM THIS MAY CONCERN:

This is to certify that I/we ____________________________________________ hereby give to
                                                                (donor/s)

my/our _________________________, _____________________________________________
(relationship)                                                     (name of recipient)

the sum of $________________ in order to aid in the purchase of a home.  This sum is given

freely as a gift and no repayment of any kind will be accepted.  The funds have been/will be given

to ________________________________________________ on ________________________.
                    (name of recipient)                                                        (date)

_______________________________________    ____________________________________
                     (Signature of donor)                                            (Donor’s bank)

_______________________________________    ____________________________________
(Address)                                                                             (Address)

_______________________________________    ____________________________________
(City)                                  (State)            (Zip)        (City)                           (State)          (Zip)

_______________________________________    ____________________________________
(Phone number)                                                              (Account number)

RECEIPT OF FUNDS

We hereby state that we received a gift of $____________ from __________________________
(name of donor/s)

and have deposited this amount in account ____________________ at _____________________
(number)                     (name of depository)

_______________________________________    ____________________________________
(Recipient)                                                                            (Recipient)

_______________________________________    ____________________________________
(Date)                                                                                   (Date)