Friday, December 5, 2008

Does an Ex-Spouse Count as a Relative?

Here's another question from a real estate agent:

Q: I have a buyer who needs gift money to pay for closing costs and I know the money needs to come from a relative. Does an ex-spouse count as a relative?

A: No. Exes, boyfriends, and girlfriends are not considered relatives. Fiancés and fiancées are considered relatives, however, provided some proof is available showing that the couple is actually engaged. A marriage license, a receipt from a jewelry store for an engagement ring, and a newspaper announcement are all examples of proof that has been accepted by underwriters. Same sex domestic partners are considered relatives as well.

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