Gift deed as POF while donor and receiver in different countries

[arjun09]

Hello All, I am planning to take a gift deed from my father for POF but we both live in different countries. My father lives in India and I live in USA. Do I have to personally present to sign the deed or the deed can be just signed by my father? how to proceed in this situation. Pls help

 

[NoelPillay]

Try tagging a knowledgeable member, like legal falcon, i'm tagging him here, he is good. I too have the same query. My brother is in Europe and me in India. CAn he send it to my mum who is in India and then she does a gift deed to me? @legalfalcon

 

[legalfalcon]

Hello All, I am planning to take a gift deed from my father for POF but we both live in different countries. My father lives in India and I live in USA. Do I have to personally present to sign the deed or the deed can be just signed by my father? how to proceed in this situation. Pls help

Try tagging a knowledgeable member, like legal falcon, i'm tagging him here, he is good. I too have the same query. My brother is in Europe and me in India. CAn he send it to my mum who is in India and then she does a gift deed to me? @legalfalcon

the gift deed has to be signed by both the donor and the donee. However, only the donors can execute the deed, as in draft it and sign it, and send it to the donor, who can then sign it after it is received by him / her.

This is for donors in India, and in accordance with the Transfer of Property Act, 1882. Section 122 lays down the requirement for how the gift is made. The basic requirements that should be met in a gift deed are:

a. The transfer should be made voluntarily;
b. without consideration (no expectation of money, return, or other favours); and
c . an acceptance by the donee (acceptance can be by acknowledging in writing that the gift has been received or by the act of receiving it). - This is where the donee has to sign as it provides proof of acceptance.

 

[arjun09]

@legalfalcon thanks for the info mate. I am confused on which is better option for POF.

I have made a fixed deposit on Jan 21, 2020 for Canadian PR application. After reading a lot of posts herein, I was informed that the fixed deposit should be 6 months old before submitting the application. But my current FD will be only 4months by the time I submit my application(planning to submit after May 21st). Is it still accepted to submit this FD as POF assuming it will be over 6months old by the time they review it or is it really necessary to have 6months old FD?

otherwise, I am planning to do a gift deed from my brother(I could not get the gift from my father or mother as they do not have a PAN card as per Indian banking rules). Now I am confused if getting a gift deed from my brother weighs more than a fixed deposit considering I am a full-time employee working in the USA.

Pls advise which option is better to submit as a POF

 

[legalfalcon]

@legalfalcon thanks for the info mate. I am confused on which is better option for POF.

I have made a fixed deposit on Jan 21, 2020 for Canadian PR application. After reading a lot of posts herein, I was informed that the fixed deposit should be 6 months old before submitting the application. But my current FD will be only 4months by the time I submit my application(planning to submit after May 21st). Is it still accepted to submit this FD as POF assuming it will be over 6months old by the time they review it or is it really necessary to have 6months old FD?

otherwise, I am planning to do a gift deed from my brother(I could not get the gift from my father or mother as they do not have a PAN card as per Indian banking rules). Now I am confused if getting a gift deed from my brother weighs more than a fixed deposit considering I am a full-time employee working in the USA.

Pls advise which option is better to submit as a POF

Yes, you can use the FD, even if it is less then 6 months old as long as you show there the funds came from for the FD. As in if you can show the transaction of the funds from your account to the FD, you will be fine. If by the time you submit your application, the FDs will be 6 months old, you are in good shape and no need to worry.

 

[arjun09]

Yeah in my case I am not sure how to prove those funds are mine. I work in USA and have been sending money to my brother for family maintenance and savings as my Indian bank account was blocked. Now when I need this money for PR I worked with my bank and asked my brother to send some money I have been sending to him for savings. So he sent that money in Jan 2020 and I have opened FD. Before Jan 2020, I do not have any transaction in that account but later after FD, I have been using it and have some transactions from the past three 4 months. Now what are the documents I need to show to VO to prove this money is mine? are FD letter from bank, my last 4months statements enough? how to proceed. Pls help @legalfalcon

 

[arjun09]

@legalfalcon need your view in this please

 

[legalfalcon]

Yeah in my case I am not sure how to prove those funds are mine. I work in USA and have been sending money to my brother for family maintenance and savings as my Indian bank account was blocked. Now when I need this money for PR I worked with my bank and asked my brother to send some money I have been sending to him for savings. So he sent that money in Jan 2020 and I have opened FD. Before Jan 2020, I do not have any transaction in that account but later after FD, I have been using it and have some transactions from the past three 4 months. Now what are the documents I need to show to VO to prove this money is mine? are FD letter from bank, my last 4months statements enough? how to proceed. Pls help @legalfalcon

As you mentioned that the FD is more then 6 months old, so that by itself should suffice. And if required, since you got the funds from your brother you can show gift deed as the source to make it easy .

 

[arjun09]

@legalfalcon no my FD is only 4months old. That is why I am afraid of submitting that as a proof and thinking about gift deed. Now my question was, is 4 months old FD is enough or should I do cancel FD and get the same money as gift deed from brother? which one is good in my case

 

[legalfalcon]

@legalfalcon no my FD is only 4months old. That is why I am afraid of submitting that as a proof and thinking about gift deed. Now my question was, is 4 months old FD is enough or should I do cancel FD and get the same money as gift deed from brother? which one is good in my case

Yes, it is enough. Since that meets the PoF requirement. However, the 6 months requirement is from IRCC to ensure that the funds you show as PoF are not borrowed. If you have the fund sitting in your account for more than 6 months, then most likely they will no be borrowed. The same applies for FDs too. Since your FD doe snot yet meet the 6 months average, you can definitely use it, but IRCC can ask for the source, and this is where you can show the gift deed.

Now it is your choice whether you submit the gift deed along with your application or submit it when asked. It would not matter either way.

 

[arjun09]

@legalfalcon appreciate for the info. It really helps me to narrow this down. One final question. I am going to submit the FD as proof without gift deed( I was actually asking about gift deed as my plan was to submit the gift deed itself as POF but not as a supporting document for my FD). Now would you advise to submit my last 4months savings account(where my FD held) statements, last 6 months salary account statements(my USA checking account) along with FD certificate or only FD certificate? asking this because I feel these statements may add strength to prove I earn this money through salary but only trick is I can only get these statements from online banking without official signatures on them.

 

[legalfalcon]

@legalfalcon appreciate for the info. It really helps me to narrow this down. One final question. I am going to submit the FD as proof without gift deed( I was actually asking about gift deed as my plan was to submit the gift deed itself as POF but not as a supporting document for my FD). Now would you advise to submit my last 4months savings account(where my FD held) statements, last 6 months salary account statements(my USA checking account) along with FD certificate or only FD certificate? asking this because I feel these statements may add strength to prove I earn this money through salary but only trick is I can only get these statements from online banking without official signatures on them.

If you are claiming points for your current job then you will have to provide your work reference letter which will have your salary details. All IRCC wants for POF is that you meet the minimum PoF requirement. You can surely submit your salary account and other account statements. It neither strengthens or weakens your case in any way.

 

[ambitious1234]

Hi @legalfalcon,
I need to take Gift for full POF from my brother or parents. I will submit gift deed. Brother is in Canada, while parents in India. I have few questions:
1. Is there any recommendation between brother (who resides in Canada) vs father (resides in india) as I have both options
2. Is there any minimum time period for which I need to keep this amount in my account ? as I cant wait for 6 months.
3. Do we need to submit bank statement of donor or transaction receipt of transfer would be sufficient.
Regards