Proof of Funds: Format of Gift Deed, Affidavit and LOE

[viki1805]

Hi!

I have queries regarding Gift Deed.

1. My mother will give me settlement funds once I receive the ITA. Is it in better position to have the POF after ITA or should I have it prior lodging my EE profile?

2. I understand that she has to provide gift deed but question is, should she include her bank statements as well or any other financial documents?

3. I have approx. CAD $7500 in my personal account. Should I also include bank statements or just bank certificate with average 6 mos. balance & current balance?

Hope to shed some lights to these questions.

Thank you.

1. I would say get the POF after ITA, as arranging for this document is not a big deal compared to other items such as PCCs where the processing times may vary. It is also a safer bet to submit this document with as recent a date as possible.

2. Her bank statements are not required. Gift deed negates it.

3. As long as you're able to show proof of those total funds being available to you, it does not matter what your average balance is specially when a gift deed is involved. however for your personal satisfaction, you can upload the bank statements if you'd like. its not like it could harm your application.

 

[mrangwala]

Witness:
The gift as stated above is accepted




(Your Name)


Who is the witness above? The one accepting the gift (receiver) or a third person? Because it looks like the one accepting the gift is the witness also. Please someone clear this doubt as in my case my wife (who is receiver) has signed here and I’m not sure if it is correct.

[/QUOTE]
Any advise on this? Anyone who has used the format given here please help !

 

[gauravmlal]

Respected Members,
I have a query regarding the role of witness in the gift deed. Who can be a witness in a gift deed ? Can a family member other than the donor fill the role or he/she has to be anyone outside the family?
Thanks!

 

[viki1805]

Respected Members,
I have a query regarding the role of witness in the gift deed. Who can be a witness in a gift deed ? Can a family member other than the donor fill the role or he/she has to be anyone outside the family?
Thanks!

anybody can be a witness including a family member.

 

[nitingoescanada]

Any advise on this? Anyone who has used the format given here please help ![/QUOTE]


Witness is any third party who is not a party of the agreement. It could be any person even from family or friend.

 

[gauravmlal]

anybody can be a witness including a family member.

Thanks for the clarification.

 

[shg]

@zagcollins @legalfalcon @DelPiero07 @viki1805
Is affidavit also required with gift deed ?
Also, is it required to provide bank statements of the donor if cheque photo is not available?

 

[shg]

POF requirement: $16000, PA account balance: $16423, avg of 6 months in bank letter: $17927.

1. I am the PA and had transferred $18000 to my spouse account 1 month before ITA, leaving me with very low balance. Just before ITA, my spouse transferred $3600 back to my account. Should this transfer be shown as gift deed from spouse as I am also taking spouse consent letter for using his bank funds of $15000.
2. There were some cash deposits of $1780 in my account just before ITA, can I include these in gift deed from spouse ?
3. Can there be 2 gift deeds shown for my account from my mother and spouse ?
4. I have taken consent letter from spouse for his salary account funds usage. He has a home loan going on from another bank. Is it required to disclose this home loan ?

 

[legalfalcon]

@zagcollins @legalfalcon @DelPiero07 @viki1805
Is affidavit also required with gift deed ?
Also, is it required to provide bank statements of the donor if cheque photo is not available?

SEE
https://www.getgcms.com/blog/proof-funds-requirement-express-entry/

 

[thog89]

I received POF funds from my father 3 months back (in June 2018). I am at score 438 and hopefully I'll get ITA in 2018. If give last 6 month statement after ITA, it will be evident that I received funds. Since that transaction (via cheque) has already happened, Can I produce a gift deed and affidavit ? (Cannot get a scan copy of the cheque or having a witness is not possible). What will be the solution ?

 

[Mini701]

Dear all,
i got the ITA last week and now figuring out the POF. I'm currently having no bank saving account which is 6 months old. I only have bank statement which states my monthly salary whose balance is not enough.

• For the minimum required amount for 1 family member ($12,300), I intended to ask my father give $12,300 as a gift to me, then I will prove it as gift deed. Or the 2nd option, I will ask my father transfer the ownership of the house to me, then I'll liquidate house and deposit the money into my account. For the 2 options, I'm just afraid of the "6 months old" concern.

• The last option is to ask my father transfer the ownership of his bank savings to me which is already more than 6 months, but the amount of money is much more than $12,300.

Senior member please help to advice!!! Thank you.

Did u get the PR by showing gift deed??

 

[Mini701]

Dear all,
i got the ITA last week and now figuring out the POF. I'm currently having no bank saving account which is 6 months old. I only have bank statement which states my monthly salary whose balance is not enough.

• For the minimum required amount for 1 family member ($12,300), I intended to ask my father give $12,300 as a gift to me, then I will prove it as gift deed. Or the 2nd option, I will ask my father transfer the ownership of the house to me, then I'll liquidate house and deposit the money into my account. For the 2 options, I'm just afraid of the "6 months old" concern.

• The last option is to ask my father transfer the ownership of his bank savings to me which is already more than 6 months, but the amount of money is much more than $12,300.

Senior member please help to advice!!! Thank you.

Did u get the PR by showing gift deed??

 

[Immortal111088]

Hello seniors.
I urgently need your help. I recently got an ITA. I had no money in my account to show as POF. But I had cash. I transferred the money into my parents savings account and they transferred it into mine of which I made a few FDs. The FDs are in my name and the only problem is that they are very recent. 20-30 days old.
What should I do??
Do I need to clarify the source of FDs.
Or are they enough??
Please please please guide me .

 

[Kritikasood]

Can FD money be considered as POF?

 

[hope2018]

Can FD money be considered as POF?

Yes if it is from your own account and in addition get written from bank that they can be liquidated anytime.