To complete a gift of equity, the home's seller must get an official appraisal. A gift of equity is the sale of a residence to a family member or someone with whom the seller has a close relationship.A gift of equity is a real estate purchase and sale transaction, usually between relatives. The difference is considered to be a gift of equity as the buyer is daughter of sellers. This comprehensive guide delves into the process of buying a house from a family member, covering the legal framework, advantages and disadvantages.