Missouri Gift Forms - Missouri Gift Affidavit

What is a Gift Affidavit?

In simple terms, a gift affidavit is a legal document that helps transfer ownership of property or assets as a gift. In the state of Missouri, a gift affidavit is used when someone wants to gift a vehicle to another person without any monetary exchange. This document states that the gift is given willingly, without any expectation of payment or consideration in return. It serves as proof of the gift and protects both parties involved.

Types of Gift Deeds

In Missouri, there are different types of gift deeds that people can use to transfer property as a gift. One common type is the general gift deed, where the owner (also called the granter) gives the property to another person (called the grantee) without receiving anything in return. Another type is the gift deed with reservation, where the granter gives the property as a gift but reserves the right to still use or benefit from it in some way. Lastly, there's the gift deed with remainder interest, where the granter gives the property to the grantee now, but specifies that someone else (a remainder man) will become the owner after a certain event occurs, like the granter's death. It's important to remember that these types of gift deeds have specific requirements, and it's always a good idea to consult with a legal professional to ensure everything is done correctly.

When To Use a Gift Affidavit

In Missouri, a gift affidavit is commonly used when transferring ownership of a vehicle as a gift. This legal document is used to prove that the vehicle was given as a gift and not sold. If you want to gift a vehicle to someone, you may need to complete a gift affidavit when you transfer the title. This affidavit helps to ensure that the new owner doesn't have to pay sales tax on the vehicle, as it's considered a gift. By using a gift affidavit, you can avoid any confusion or misunderstandings regarding the nature of the transaction and provide clear evidence of the gift.

What Should Be Included in a Gift Affidavit?

In a gift affidavit in Missouri, a simple human language paragraph should include certain important information. Firstly, it should clearly state the relationship between the person giving the gift (the donor) and the recipient. The affidavit should mention the specific details of the gift, such as the description, value, and date of the gift. Additionally, it is crucial to include the donor's affirmation that the gift is being given voluntarily and without any conditions or expectations of repayment. It's also vital to include a statement that the donor relinquishes all legal rights and ownership of the gifted item. Finally, the affidavit must be signed and dated by the donor in the presence of a notary public for it to be legally binding in Missouri.

How To Write a Gift Affidavit

To write a gift affidavit in Missouri, follow these simple steps. Begin by stating your full name and address as the person giving the gift, also known as the donor. Then, include the recipient's full name and address, known as the done. Clearly describe the gift being given, such as money, property, or any other items of value. Mention the purpose of the gift if applicable. Sign the affidavit in the presence of a notary public, ensuring it is dated and witnessed. Finally, make copies of the completed affidavit for both yourself and the recipient, as these may be necessary for legal purposes.