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The Gifted Deposit Letter Template is essential in Singapore's property and financial landscape where gifted deposits are commonly used for property purchases. This document is required when one party (usually a family member) provides funds to another as a gift, particularly for property down payments. The template ensures compliance with Singapore's financial regulations, anti-money laundering laws, and banking requirements. It includes crucial information such as donor and recipient details, gift amount, source of funds, and clear statements about the gift's non-repayable nature. The document protects all parties involved and satisfies regulatory requirements for financial institutions and property transactions.
