A gift affidavit is a written document, which proves that property was transferred from one person to another as a gift. Generally, this means property was given to another person without the expectation of receiving something in return. Gift affidavits are used for a variety of reasons, often as evidence for vehicle transfers or as proof of income. Making a gift affidavit is as simple as completing a form or writing up a one-page document identifying the giver, recipient and nature of gift.
Gift Affidavit Forms
In many cases, it is unnecessary to create a gift affidavit from scratch because a form already exists, especially for transactions that routinely require such documents. For example, gift affidavits are commonly used to prove the transfer of a car's ownership. As a result, several states, such as Tennessee, Minnesota and Texas, have a special gift affidavit form available for those gifting a vehicle. Although forms may vary among states, common information requested includes buyer and seller information such as their names, addresses, phone numbers, driver's license numbers, signatures, as well as vehicle details like the VIN number, year, make and model. You simply fill in the required information. In Missouri, a special gift affidavit form is not required. You can simply provide the new vehicle owner with a written statement indicating that the vehicle was a gift and write the word "gift" in the sale price area of the title.
Drafting a Gift Affidavit
For situations in which a form is not available, a simple one-page letter is usually sufficient. The basic information required typically includes the name and address of the giver and recipient, the property given and the giver's signature. It might also have to include additional information such as whether the gift is of an ongoing nature. The letter may require notarization, depending on its purpose.