��������Ƶ

The Down Payment Gift Letter is a crucial document in Nigerian real estate transactions where property buyers receive monetary gifts to assist with their down payment. This document becomes necessary when a portion or all of the down payment comes from a gift rather than the buyer's own savings. It serves multiple purposes: satisfying mortgage lender requirements, ensuring compliance with Nigerian financial regulations, and documenting the legitimate source of funds for anti-money laundering purposes. The letter must adhere to Nigerian banking regulations, the Money Laundering (Prohibition) Act, and other relevant financial laws. It's particularly important in the Nigerian context where family members often assist in property purchases and lenders need clear documentation of fund sources. The document includes essential details about all parties involved, the property being purchased, the gift amount, and clear statements about the non-repayment nature of the funds.

1. Donor Information: Full legal name, address, and contact information of the person giving the gift

2. Recipient Information: Full legal name, address, and contact information of the person receiving the gift

3. Property Information: Details of the property being purchased, including full address and property description

4. Gift Amount: Specific amount being gifted, written in both numbers and words

5. Gift Purpose Declaration: Clear statement that the funds are specifically for property down payment

6. Non-Repayment Statement: Explicit declaration that the money is a gift and not a loan requiring repayment

7. Source of Funds: Declaration of where the gift funds are coming from to satisfy anti-money laundering requirements

8. Date and Timing: When the gift will be/was provided and relevant transfer details