Hi, as rightly pointed out to you by teed618, using property for POF will not fly with AVO, certainly not at this stage where you are expected to hold unencumbered cash as POF. You have two options, raise your POF from all your accounts and your husband's own and fixed in one fixed deposit account. Or sell that land and convert to cash then fix it in the bank. The fixed deposit certificate will serve as your proof of fund. My further personal advice, fix it in USD, exchange rate is killing the Naira and it doesn't look like things will get better. All the best.LARAZ said:
If the Principal Applicant presented the spouse's account of Fixed Deposits as POF to CIO. And if the Principal Applicant is a signatory to the spouse's account? And the PA does not have any 50% of the POF in his/her account.Dotsngr said:
Hi, if the PA is a signatory to the spouse's account and he can prove this with a letter from the bank that he has control/access to the funds, it is acceptable. But usually, AVo accepts funds in either PA or spouse's account, in whatever ratio. Cheers.Flosure said:
You are supposing that AVO will demand you provide POF update. In any case, you will provide all documentation you have showing you once owned the land and that you sold it. It is not compulsory to show evidence of C of O as you can state you bought the land for investment purpose and not to develop it. All the best.LARAZ said:
No, you cannot use your pension fund account because by law, you are only entitled to 25% of the balance after 4 months of being out of work amongst other requirements and AVO knows this law.Folake2015 said:
