POF - amount transferred from joint account of parents- Asivad seeking your help

[swsood1686]

Hi Asivad,

If we transfer amount from joint account of parents, then gift deed should say both parents name or only deed from father will do?
Pls advise.

 

[Asivad Anac]

Preferably both the parents. Also, gift deed is not required. A simple signed declaration (which explicitly mentions that this is a gift not a loan) would suffice.

 

[swsood1686]

Thanks so much for your reply.

I have a notoarized deed further i will attach an LOE that both my parents have gifted me the money?