legal






 

Question by  johnd (23)

Are gifting programs legal in the U.S?

 
+8

Answer by  patti (29325)

A gift giving program is a pyramid scheme dressed up like something that is philanthropic. Whether it is legal depends on how it is different from a pyramid scheme.

Reply by Starlite (0):
All legal gifting programs should have a state of the art system that is tracking all cash gifts in the activity. This helps to ensure that no one is being scammed, and that all cash gifts get to the appropriate people.  add a comment
 
+6

Answer by  CarlSCansino (464)

The answer to this question is yes, however there are some states that are really scrutinizing these real estate transactions and looking at them as potentially fraudulent and possibly can be considered mortgage fraud. Georgia is one of these states. As long as the down payment is truly a gift and not some sort of sham, then it is legal.

 
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