DEED OF GIFT
(gift of money, for example towards a property deposit)

This template is general information, not legal advice. A deed of gift is a
formal legal document. Have a solicitor confirm the wording and witness the
signing before you rely on it. If the gift is for a mortgage deposit, your
lender or conveyancer may want their own gifted deposit form or letter as well.

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THIS DEED OF GIFT is made on [DD/MM/YYYY]

BETWEEN:

(1) THE DONOR: [Donor's full name] of [donor's full address]
    ("the Donor"); and

(2) THE RECIPIENT: [Recipient's full name] of [recipient's full address]
    ("the Recipient").

BACKGROUND:

The Donor wishes to make an outright and unconditional gift of the money
described below to the Recipient, and to record that gift as a deed.

THE DONOR AND THE RECIPIENT AGREE AS FOLLOWS:

1. THE GIFT
   The Donor gives to the Recipient the sum of £[amount]
   ([amount in words] pounds) ("the Gift").

2. PURPOSE (optional)
   The Gift is intended to be used towards [for example: the deposit for the
   purchase of the property at [full property address]]. The Recipient is
   under no obligation to use it for this purpose.

3. UNCONDITIONAL AND NON-REPAYABLE
   The Gift is an absolute, unconditional gift. It is not a loan. No repayment,
   interest or consideration of any kind is expected or required, now or in the
   future.

4. NO INTEREST RETAINED
   The Donor keeps no interest, share, charge or right of any kind in the Gift
   or in any property or asset the Recipient buys with it, and the Donor will
   not live in any such property unless a separate arrangement is agreed in
   writing with the relevant lender.

5. THE DONOR'S POSITION
   The Gift comes from the Donor's own funds, held at [bank or building society].
   Making the Gift does not leave the Donor unable to meet their own debts and
   commitments. The Donor is not bankrupt and is not aware of any insolvency
   proceedings or claims against them.

6. SOURCE OF FUNDS
   The Donor will, if asked, provide photo ID, proof of address and bank
   statements so the Recipient's solicitor or lender can complete
   anti-money-laundering source-of-funds checks.

7. TAX
   The Donor understands that a gift can have inheritance-tax implications for
   their estate (the seven-year rule and available exemptions) and that this is
   a matter for GOV.UK guidance or a tax adviser, not for the Recipient.

EXECUTION

Executed as a deed by the Donor:

Signed as a deed by [Donor's full name]

Signature: ______________________   Date: [DD/MM/YYYY]

in the presence of:

Witness signature: ______________________
Witness full name: ______________________
Witness address: ______________________
Witness occupation: ______________________

(The witness should be an independent adult, not the Recipient and not a member
of the Donor's household or family, and should watch the Donor sign.)

Acknowledged by the Recipient:

Signature: ______________________   Date: [DD/MM/YYYY]
Full name: [Recipient's full name]

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mortgageexplained.co.uk : information, not advice. We introduce you to a
regulated mortgage broker who can advise on the mortgage itself.