Gift of equity

My Mother recently passed away leaving her home to my three sisters and I. There is a nephew that is interested in purchasing the home and we would like to give him a gift of equity in the home. My question is can each of the four of us give him $11,000 equity gift?

I'm no expert, but I think you can. The rule is just that no individual can gift more than 11K to another individual in a given year, so you could each gift him 11K in 2005 and then if you felt like it turn around and gift him 11K more in 2006.