This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Purchase Contract With Gift Of Equity In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00418
Format:
Word;
Rich Text
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In Texas, the seller cannot give any money to the buyer for down payment, only closing costs. The gift represents a portion of the seller's equity in the property.A gift of equity is a real estate purchase and sale transaction, usually between relatives. 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. This legal form specifies the donor's relationship to the borrower, the equity amount being gifted, and the property address involved in the transaction.