Gift Outright


Definition of "Gift outright"

Value or property given by an individual directly to a donee (recipient of the gift), for example, when a father gives a life insurance policy with all ownership rights to his son.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Storekeepers Liability Insurance

Coverage for bodily injury and property damage liability resulting from ownership, use, and/or maint ...

Expiration

Termination date of coverage as indicated on the insurance policy. ...

Market Value

Independently appraised value of real estate in a free competitive market. Many variables must be co ...

Net Proceeds

Amounts received from the sale or disposal of real property less all relevant deductions (direct cos ...

Exclusive Agency System

Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged t ...

Mortgage Instrument

A written mortgage document. A mortgage instrument states the terms of the mortgage including the in ...

Related Real Estate FAQ

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

What Is Homeowners Association (HOA)?

Homeowners association is a nonprofit association that manages the common areas of a condominium or ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

What Does A Back-end Ratio Mean?

A borrowers other debts, such as auto loans and credit cards, figured into the debt-to-income ratio. ...

What Is A Convertible ARM?

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

What Is A Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obli ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Is it better to buy or sell a home first How Does The Home Loan Underwriting Process Work? What is the Best Time of Year to Buy a Home? Why Right Now is a Good Time for Millennials to Buy a Home 5 U.S. Cities with the Best Public Transportation

FAQ

How Much Can I Afford ? What is earnest money? What is a front-end ratio? What is a lease purchase mortgage? What does a back-end ratio mean?