Gift (Equity & Monetary)

header-Gift (Equity & Monetary)

An equity gift is when you buy a property from a family member at a discounted price and the difference between the actual market value and the agreed sale price acts as a gift in the form of equity. 

 

A monetary gift on the other hand is actual money being donated by a family member towards the purchase of a property. Most often the funds are being used for the downpayment but can also be used for closing costs.