Let me share my story.As the title suggests, I received a house as a gift from my father-in-law upon getting married.

Their real target is executive compensation disguised as interest-free loans and large family gifts disguised as interest-free loans.

I am paying them 500 a month untill i pay them off. 2 years max.that is why i am looking at refinacingYou can look into a creative method called Gift of Equity.

Most people lack the money for a down payment, and their personality tells them if they do have some extra money spend it on a good time, beer, a vacation, new skis, a gift for junior, etc...

Integrity goes a long way.You can also give a very generous closing gift, offer additional information/services post-closing, and/or offer a rebate for a portion of your commission at/near closing time. 

And does your calculation take into consideration the fact that an entire town can burn down, and the only assistance the government will give you is a $700 gift card? 

Would there be gift taxes involved as well? 

I'll need you to sign a basic NDA and I'm happy to gift you a $50 amazon gift card for your help. 

Or is this just a theoretical way to gift an asset, but on paper it remains in the parent (grandparent/ gifter's) name?   

He claimed that if we would just spend $2k on the backyard he would "increase the value of the house between 35-40%".I got him a $100 gift card to Armstrong garden just to play nice.