GIFTED MONIES – Sadly, divorce may cause emotional distress and significant financial losses
Protect gifted monies with AffordAssist
Dear All,
Sadly, a divorce may cause emotional distress and significant financial losses; in the case where parents gift cash towards a deposit to help secure a home loan and buy a property that cash-gift may end up in financial losses.
…what was gifted with love and meant to support a new family home has been painfully lost.
The AffordAssist Deferred Deposit Agreement (DDA) may serve to provide the means to potentially protect deposits – the agreement provides several clauses to manage risk outcomes.
Why use an agreement between family?
Life happens. The principal here is that help is acknowledged and appreciated for the means it is providing; a home. This process also gives the buyers dignity and strength of character. They do get your family help, but not a hand-out. The process also provides the parents with peace of mind.
A nominated amount and term are entered into between the buyers and parents – includes an interest free payment plan. Summary:
1. Appreciating financial responsibility
2. The amount may vary and is included as part of the loan servicing application
3. The term may vary
4. Interest free payment plan
5. Caveat after settlement until DDA is completed
6. Several clauses to manage risk outcomes
Click to know more: https://www.affordassist.com/
AffordAssist is not a broker. Provide and manage the governance process. Have a panel of approved brokers. Are you a broker? Join our mission to help increase home ownership. We welcome your team work; together we can help more into home ownership.
Kind regards
AA
GIFTED MONIES – Sadly, divorce may cause emotional distress and significant financial losses
