http://www.trulia.com/voices/How_To_/What_does_it_mean_when_property_is_gift_property_-61788en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-Suwanee_GA-83249/http://www.trulia.com/voices/profile/Real_Estate_Pro-Suwanee_GA-83249/Vonia, Steven explained it well. It's much like selling your car to a family member for $1. You must convey title for some type of consideration (value). In this case it's Love and affection. Transferring property this way is usually done between family members.Sun, 12 Oct 2008 10:26:35 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Jupiter_FL-86650/http://www.trulia.com/voices/profile/Real_Estate_Pro-Jupiter_FL-86650/Hi Vonia, In contracts there is a need for Consideration (legal term). There are 2 types of Consideration, one is something like cash, or something that can be converted to cash easily. The other type of Consideraion is a little less defined,,, BUT A LOT MORE VALUABLE! Consideration can be in the form of Love, or Luv, or Appreciation, or Just Because,,,, to Loved Ones and Cherished Ones, and Family or Friends, or ETC. I think that is what you are referring to. A good search of Valuable Consideration With Legal Contracts on one of the search engines on the internet may give you a good anwer.Sat, 11 Oct 2008 20:59:16 -0700