Thank you for your patience;
any gift of equity will be a gift for tax purposes;
so if the gift equity is more than $14,000 then a gift tax return would need to be filed ( a person can gift $14,000 per year, to both parties, so for $28,000, without filing a gift tax).
Here is that form:
No gift taxes are due until the giftor gifts $5.43million dollars.
Some people will gift the annual gift tax in equity for one year, and in January the following year gift the additional amount, to avoid having to file the form 709 (so retaining a partial interest in the home) but that is usually not a concern unless the giftor has or expects to reach the lifetime gift exclusion of $5.43million
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