Proof of Funds Query

[bhattx]

Hi everybody..
I'm in a pickle about the proof of funds department..
I recently bought some real estate and now am almost out of liquid cash. My father has a savings account in which he has amount equivalent to about 19000 CAD. If I get the savings account transferred in my name and afterwards show the statement as proof of funds. would it work or is there a catch??
Will appreciate the help!!!!!

 

[xpressentry]

You would need a gift deed from your father stating that it is a gift and not a loan that he would need back.

 

[bhattx]

You would need a gift deed from your father stating that it is a gift and not a loan that he would need back.

What kind of a document would it need to be?
A letter with his signature? A notarized document or a statement by the bank declaring the transfer as a gift?

 

[xpressentry]

your name sounds Indian so I will assume that you are an Indian. A gift deed in a legal document and would have to be done by a notary on a stamp paper.