Gift Letter Affidavit
A document from the gift-giver, which states that there is no expressed or implied obligation to repay the gift. If the buyer is obtaining a gift for all or a portion of the down payment, closing costs or reserve requirements, then the donor must sign a gift letter confirming the gift status of the provided funds. In addition, the donor must often provide documentation that the funds actually belong to the donor and is transferred from the donor's account into the applicant's possession.
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