Hi, I'm new to this but need advice. My parents have given me and my brother a substantial cash gift.A gift letter is a piece of legal, written correspondence explicitly stating that money received isn't expected to be repaid. Pin down the specifics of the property in question. Clearly state the property's address, ensuring there's no ambiguity about where the gift funds are intended. Transfer property or money to someone with our revocable or irrevocable Gift Deed template. It's tailored to your state's laws. As I understand it, a parent can gift £3000 per year to a child free of any IHT liability. Here's a sample gift letter you can use to prove that the money is truly meant as an outright gift, with no expectation of repayment. A down payment gift letter simply states that the donor does not expect any form of repayment.