You could agree with the Seller that you will accept up to $10,000 in the special assessment and the seller covers the remainder.

You have to make it special.

I'm a Project Manager at an Architectural Firm specializing in Custom High-End Homes. 

I don't think we are going to be able to come up with $50K before they're going to need to move and no, definitely no family members able to gift $50K. 

If you gift your share, it may trigger gift tax filing if the value exceeds the annual exclusion ($18,000 for 2024 and $19,000 for 2025), though no immediate tax is due if under your lifetime exemption.

Transferring a property title later could be deemed a taxable gift if it exceeds the annual exclusion ($17,000 for 2024).

Adding the ex to the title could trigger gift tax implications, so keeping it simple is best.

@Caryn Fischer  The downside of gifting or selling property to your children is that it can have capital gains tax consequences.

You can also get a "gift" from a relative or join a program (ask the mortgage officer) on if there is a gift program you can join - similar to a scholarship. 

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