My in-laws recently immigrated to the United States.  We bought a condo for them to live in.  As a part of the process, they made me a co-owner of their checking account.  Does making me a co-owner of a checking account result in any gift tax implications? Separately, they agreed to pay a part of down payment for the condo.  If I now, as a co-owner of their checking account, write a check to myself for, say, $20,000, would it have any gift tax implications?