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11-20-2008, 09:39 AM
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Downpayment
Hi everyone, if someone was to help out with the mortgage downpayment, should they write the check to the title company at closing? Because if they were to cut a personal check to me, wouldn't that consider as a gift and tax will be asset?
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11-20-2008, 09:51 AM
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Every state is different. Talk to a Real Estate Lawyer. Either way the bank will consider it a gift.
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