What Is A Gift Letter?
Definition of "What is a gift letter?"
A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
A lien that makes property security for the repayment of debt. Mortgages can finance the acquisition of real estate such as a home. A mortgage has certain benefits compared to other debt ...
Judicially determined minimum selling price for auctioned property. For example, a judge rules that a foreclosed home may be sold for less than $200,000, ...
An individual's option to fairly utilize another's property. An example is privileges under an easement. For example, a person receives permission to use a lake on the private property of ...
Typically, a benchmark means a standard comparison unit between similar items to measure their performance. As such, we must select the universal component or criterion. Then, grade the ...
Bond collaterized by real assets. Two kinds of mortgage bond are senior mortgages and junior mortgages. A mortgage bond may have a closed-end provision that prevents the firm from issuing ...
Interpreting the objective of a testator in his or her will. The disposition of the testator's estate must be untreatable or it could be legally challenged. ...
Method of describing a real estate property offering by a developer in lieu of a prospectus. ...
When doing an Appraisal, the Appraiser has several methods to get to his/her Market Value evaluation and obtain a number regarding that property’s market value. The Income ...
An individual for whom a court has awarded a financial judgment against a debtor. For example, a court award makes Smith a judgment creditor against Cole for $2,000. ...
Have a question or comment?
We're here to help.