[size=10pt][size=10pt]POF questions[/size][/size]
Dear all we need to understand that the following is written on CIC website Regarding POF
" These funds could be in the form of:
1) cash
2) documents that show property or capital payable to you (such as stocks, bonds, debentures, treasury bills, etc.) or
3) documents that guarantee payment of a set amount of money, which are payable to you (such as bankers' drafts, cheques, travellers' cheques or money orders)."
Good Info....
The word property in (2) is creating a mess up and I think number of applicants have sent property (land and other Immovable property documents) as POF, Some of them have attached property Valuations and some have not, TO my understanding this is not a valid POF
and can create problems as " POF has to be un encumbered, readily cashable money " like Fixed Deposits, KVP, Treaury Bills, Shares, Debentures etc etc. As property can not be encashed readily, I highly suspect that it will be treated as POF, Whereas it is your Assett and can be taken in Assett Column not in POF calculations.
I am a Govt. Registered Valuer since last 18 Years and I can tell you from my experience that If somebody has sent only property documents or just valuation of that property as POF, his/Her application is in high risk bracket !!!!!!!!!!
Best of luck everybody !!!!!!