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Gifted Mortgage Deposit
LRMaggot
Posts: 2 Newbie
Good evening. My mother and father-in-law have proposed an idea where they sell us their house, and from the equity they would gift us a substantial amount as the deposit towards our purchase of that property. Is this a possibility as the deposit would not be available until the sale is processed?
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Comments
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Where are your in-laws proposing to live afterwards?0
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They are planning to move abroad. The plan they've suggested is to give us 70% of the equity as our inheritance and move abroad with the rest.0
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The idea is feasible. Though the timing might not be good.LRMaggot said:They are planning to move abroad. The plan they've suggested is to give us 70% of the equity as our inheritance and move abroad with the rest.0
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