Question about the gift deed for PoF

[omarnabsws]

Hello,
I have a question regarding the gift deed everyone talks about. I am really very ignorant when it comes to legal documents.
My uncle provided me with the money to deposit in my account. What is the next step? who issues the gift deed, is the the bank or the notary?
Is it a complicated thing to do? I know it probably differs from one country to another but i'd appreciate your insights. and if anyone here is from Lebanon and can tell me the exact steps i'd be grateful.

 

[Asivad Anac]

A signed self-declaration on plain paper explicitly mentioning that the transaction was a gift not a loan would suffice. Support this self-declaration with proof of transfer of funds into your bank. That would suffice - no gift deeds or other legal formalities required.

 

[omarnabsws]

Thank you Avisad!
Technically the money is from my savings, I asked my uncle to save them in his bank account because i am such a conspicuous consumer. Been saving it for years. So same process right? A paper signed by both stating that the money is mine and I have been saving it with him, instead of saying a gift.

A signed self-declaration on plain paper explicitly mentioning that the transaction was a gift not a loan would suffice. Support this self-declaration with proof of transfer of funds into your bank. That would suffice - no gift deeds or other legal formalities required.

 

[Asivad Anac]

Thank you Avisad!
Technically the money is from my savings, I asked my uncle to save them in his bank account because i am such a conspicuous consumer. Been saving it for years. So same process right? A paper signed by both stating that the money is mine and I have been saving it with him, instead of saying a gift.

No. Call it a gift. Far too cumbersome to prove that the money belonged to you in the first place. Calling it a gift changes nothing except making it easier for you to get your POF processed with minimal documentation.

 

[omarnabsws]

Will do.
Thanks again!

No. Call it a gift. Far too cumbersome to prove that the money belonged to you in the first place. Calling it a gift changes nothing except making it easier for you to get your POF processed with minimal documentation.

 

[omarnabsws]

Avisad I sent you a personal message with a sample of what to write can you please take a look?

 

[bivalve]

Hello guys!!! i am new here and i dont understand how this function!!!! some one help me?????

 

[JoacRy]

Hello guys!!! i am new here and i dont understand how this function!!!! some one help me?????

This is basically a situation where you don't have enough funds in your account to satisfy the 'POF' requirement, and your family member, friend or some other associate transfers money to you, and signs a document stating you don't have to repay the money as it is a gift. This must be a letter and you must get it notarized by a Notary Public.

 

[omarnabsws]

Are you sure that we have to notarize it??

This is basically a situation where you don't have enough funds in your account to satisfy the 'POF' requirement, and your family member, friend or some other associate transfers money to you, and signs a document stating you don't have to repay the money as it is a gift. This must be a letter and you must get it notarized by a Notary Public.

 

[JoacRy]

Are you sure that we have to notarize it??

I am quite sure it has to be notarized for 'authenticity'. If the document is not authentic then there is a chance it could be rejected by CIC.

 

[omarnabsws]

Seems like i will have to do exactly what i was trying to avoid after all, drag my uncle to the notary.
Oh well.
thanks for your input.

I am quite sure it has to be notarized for 'authenticity'. If the document is not authentic then there is a chance it could be rejected by CIC.

 

[JoacRy]

Seems like i will have to do exactly what i was trying to avoid after all, drag my uncle to the notary.
Oh well.
thanks for your input.

Sorry that was not my intention to make you do this, but better to know now rather than later. Just imagine if you submit an application and are rejected by CIC for not having this document notarized. Take the precautions now, and you won't have to go through the heartbreak later.

 

[Asivad Anac]

Seems like i will have to do exactly what i was trying to avoid after all, drag my uncle to the notary.
Oh well.
thanks for your input.

No notarizing required. Self-declarations need to be signed, dated and preferably mention transaction details.

 

[sunshinejan]

No notarizing required. Self-declarations need to be signed, dated and preferably mention transaction details.

Asivad,

did you only submit the self declaration for your proof of funds (if not a secret)?

And can you please help structure the self-declaration letter? Maybe a sample?

THANK YOU SO MUCH

 

[Asivad Anac]

Asivad,

did you only submit the self declaration for your proof of funds (if not a secret)?

And can you please help structure the self-declaration letter? Maybe a sample?

THANK YOU SO MUCH

Yes.

"This transfer is a gift to XYZ made expressly for the purposes of supporting them in settling down in Canada. This is not a loan hence need not be returned to me at any point in time."