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.