Gift funds are money given to you as a gift. Information about gift funds is used to verify that the funds are coming from an appropriate source and in an appropriate manner. Appropriate sources are typically relatives, a fiancé or fiancée, or a domestic partner. A gift from any other source may be considered an inducement to purchase and may require a reduction in the sales price.
You will be asked to complete a gift-letter document, a copy of which is completed for each individual gift. Be sure to include the following information on the document:
- Donor’s name and mailing address including the street, city, state, and ZIP code
- Donor’s telephone number, including area code
- Amount of gift
- Verification of the transfer of gift funds
- Recipient (must be you)
- Your relationship to the donor
- Subject property's address including the street, city, state, and ZIP code
- Location of funds, either customer’s or donor’s account; depository name, address, and account number
- Donor’s and your signatures
Avoid delays in processing your application
For all documents:
- Make sure the copies you send are legible.
- Do not include documents that have been altered with correction fluid or by other means.
- Submit the entire requested document and include all pages (even blank ones).
For this document
- Complete the entire gift-letter document.
- Send a separate gift-letter document for gifts from different individuals.