Gift Deed

[countyboy]

If I have a gift deed, does 6-month average issue disappear or should my gift deed stay in my account for that long?

For instance, if I have got no money in my bank account and I get ITA tomorrow and fill in my account with min required funds a day later and submit application 1 day afterward, is it a red flag or not? or should I wait?

 

[Hridesh13]

If I have a gift deed, does 6-month average issue disappear or should my gift deed stay in my account for that long?

For instance, if I have got no money in my bank account and I get ITA tomorrow and fill in my account with min required funds a day later and submit application 1 day afterward, is it a red flag or not? or should I wait?

same question fro me too?

 

[viki1805]

same question fro me too?

as long as you are attaching a gift deed letter saying those funds are available to you and do not need to be repaid to whomsoever, the 6 months average wouldn't matter.

 

[Hridesh13]

as long as you are attaching a gift deed letter saying those funds are available to you and do not need to be repaid to whomsoever, the 6 months average wouldn't matter.

thanks viki1805, do we need any particular format for gift deed.

 

[viki1805]

thanks viki1805, do we need any particular format for gift deed.

https://www.canadavisa.com/canada-i...format-of-gift-deed-affidavit-and-loe.487054/

and besides the above reference, any attorney should be able to help you with getting this done!

 

[pursuit_of_happiness]

Also, can the girft deed amount be transferred to a newly opened bank account?

 

[viki1805]

Also, can the girft deed amount be transferred to a newly opened bank account?

I would defer that question to some of the more informed members here! Ideally the 6 month average shouldn't matter when you're presenting a gift deed.but I dont know if you could literally just dump the money into a new account and present that with a gift deed.
@hope2018 @mr.preetsingh @bimale4bipeople - please chime in !

 

[pursuit_of_happiness]

I would defer that question to some of the more informed members here! Ideally the 6 month average shouldn't matter when you're presenting a gift deed.but I dont know if you could literally just dump the money into a new account and present that with a gift deed.
@hope2018 @mr.preetsingh @bimale4bipeople - please chime in !

yes, this is the option that seem to be viable in my case.

I have a joint account with my father with me being the primary account holder. I came to know that we cannot show joint account as proof of funds so i opened a bank account solely under my name and was thinking about using it as POF.

Please advise if doing so will cause any issues.

Thanks

 

[bimale4bipeople]

yes, this is the option that seem to be viable in my case.

I have a joint account with my father with me being the primary account holder. I came to know that we cannot show joint account as proof of funds so i opened a bank account solely under my name and was thinking about using it as POF.

Please advise if doing so will cause any issues.

Thanks

Should be fine, you would need a gift deed letter from your father and a letter and bank statement signed and stamped from your bank.
Since your account is new, I would suggest you to include the account balance letter of the jt. account as well

 

[keebs]

T

Also, can the girft deed amount be transferred to a newly opened bank account?

yes it can. That’s exactly what I did and my application was approved with no problem.

 

[pursuit_of_happiness]

T

yes it can. That’s exactly what I did and my application was approved with no problem.

ok, that sounds good then. Thanks for the response.

 

[aahaanbajaj]

Hi Folks I have a similar concern. I have got sufficient funds my wife's account.

1. HDFC bank - $2k (3yrs old)
2. PNB - $3.6k (2yrs old)
3. PNB joint account - $3.4k (2months)
4. ICICI - $12k (45 days)

Now my question is, as the last two major amounts are relatively fresh, can I transfer this money to my Mother in law's account, and get it back to my wife's another account, and take a gift deed. Would that solve my problem of new deposit?

Its like ICICI - $12k (45 days)-- to MIL account --back to HDFC with gift deed.

I am primary applicant, so I will have a concent letter from my wife to have full access of the money?