Updated over 8 years ago on . Most recent reply
Can i be gifted money for a downpayment
I have a signed purchase contract for my first 4 plex. I will be going in on the deal with a few other family members as i don't have the cash for the 25% down-payment that is required.
Is it possible/legal for them to transfer their portion of the downpayment into my account so i can be the sole person on the mortgage? This way only 1 of us has to be on the mortgage.
Any advice or ideas on possible workarounds would be appreciated. Thanks.