Wherever your state enters info for seller concessions (ie seller paid closing costs), you should be able to enter your gift of equity info. The gift represents a portion of the seller's equity in the property.Use a Texas Gift Deed to give real estate to another person or an entity. Gifting real estate among spouses or family members is fairly common. The requisition will become a Purchase Order contract specifying the exact terms and conditions. Before entering a requisition, the. The simplest form is a quit claim deed and you do not need an attorney to prepare this. To complete a gift of equity, the home's seller must get an official appraisal. This legal form specifies the donor's relationship to the borrower, the equity amount being gifted, and the property address involved in the transaction.