When it comes to giving or receiving gifts, it is always important to have a written agreement in place. A gift agreement outlines the terms and conditions of the gift, as well as any expectations that the giver or recipient may have.
If you are looking for a sample letter for a gift agreement, you have come to the right place. Here is a template that you can customize to fit your specific needs:
I am writing to confirm our agreement regarding the [description of gift] that you have agreed to give/receive. The purpose of this letter is to outline the terms and conditions of our gift agreement.
Description of Gift
The gift is a [description of item] that will be given/received on [date of exchange]. The estimated value of the gift is [value of gift].
Transfer of Ownership
The giver hereby transfers ownership of the gift to the recipient, who accepts the gift. The recipient acknowledges receipt of the gift and agrees to take care of it.
Use of Gift
The recipient agrees to use the gift for [intended purpose]. The gift may not be sold, donated, or otherwise transferred without the written consent of the giver.
The recipient acknowledges that the gift is given without any warranties, express or implied, and that the giver makes no representations as to the quality or condition of the gift.
This agreement shall be governed by and construed in accordance with the laws of [state/country], and any legal action arising from this agreement shall be brought in a court of competent jurisdiction in [city/region].
This gift agreement represents the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements. This agreement may not be amended except in writing signed by both parties.
By having a written agreement, you can ensure that both parties are on the same page and that there is no confusion or misunderstandings regarding the gift. Be sure to read the agreement carefully and make any necessary changes to fit your specific situation.