Affidavit of Gift
Gift Affidavit Form
What is a Gift Affidavit?
A Gift Affidavit is a sworn statement that can be used to document the gifting of property. If you've received or given a gift, you might have to prove it wasn't a loan or financial transaction with a Gift Affidavit. This is especially true if the item is worth a lot of money or if it is something that is not typically given away. A Gift Affidavit can help you show that no money was involved, that it wasn't a loan, and that nothing else was sought for in exchange for the gift. It's unlikely that you need a Gift Affidavit for the average birthday present, however, if you're giving someone a house or a valuable collectible item, then a Gift Affidavit may be necessary. After all, one or both of you may have to prove it's a gift for tax reasons. In the case of a divorce, a Gift Affidavit can also help sort out what property is jointly owned and what isn't. A Gift Affidavit is your way of formally saying something was a present.
When to use a Gift Affidavit:
- You gave someone a gift, and want formal proof.
- Someone gave you a present and you want a formal statement to prove it.
- A court has asked you to swear that an item was a gift.