In real estate terms, a gift is a sum of money received from a family member or other source towards the purchase of a home. The gift is given in cash and not stocks, bonds or other source that can not be accessed immediately. The lender often requires a letter from the gift giver stating that this money does not need to be repaid. Repayment of a gift could affect the borrowers's ability to repay their mortgage, so the financing company wants to be sure the buyer is able to repay their loan. Real estate gifts are sometimes given to newlyweds as a wedding present to purchase their first home as a married couple. The gift can also be given by an older family member or friend so the couple does not have to wait for their inheritance in order to purchase a home.