gift deed of property

[honeybunny]

Can a gift deed of property be used as collateral at a bank for a 5000 $ personal loan

 

[army judge]

Can a gift deed of property be used as collateral at a bank for a 5000 $ personal loan

You could use anything the lender will accept for collateral, things like your lucky rabbit's foot, magic agate marble, that $10,000 IOU you won in a poker game, this week's unannounced "winning" lottery ticket, and even that "gift property deed".

The problem for you is, will the potential lender call it suitable collateral?

I'm thinking not, if its a "gift deed", as in "quitclaim".

You should ask the lender, because no one can speak for the lender.