Gift-deed

[Jawad88]

Hello,
I received a sum of money from my brother through his friend. Now, I read that it’s not recommended to receive a gift-deed from friends. Will my application be denied or delayed because of this?
I am planning on asking my brother’s friend to issue for me a gift-deed along with a notarized affidavit, but I am very concerned as I am abroad, and I don’t want any delay in my application processing time.
Any ideas? Thank you, a lot, for your help,
Jawad,

 

[monica25]

Hello,
I received a sum of money from my brother through his friend. Now, I read that it’s not recommended to receive a gift-deed from friends. Will my application be denied or delayed because of this?
I am planning on asking my brother’s friend to issue for me a gift-deed along with a notarized affidavit, but I am very concerned as I am abroad, and I don’t want any delay in my application processing time.
Any ideas? Thank you, a lot, for your help,
Jawad,

You can receive a gift deed from a friend, this will not cause any problem.
And yes, make sure to have the gift deed from that person notarized. Good luck!

 

[Jawad88]

Thanks a lot. Have a great day!

 

[legalfalcon]

Hello,
I received a sum of money from my brother through his friend. Now, I read that it’s not recommended to receive a gift-deed from friends. Will my application be denied or delayed because of this?
I am planning on asking my brother’s friend to issue for me a gift-deed along with a notarized affidavit, but I am very concerned as I am abroad, and I don’t want any delay in my application processing time.
Any ideas? Thank you, a lot, for your help,
Jawad,

You cannot receive a gift from a friend and show this as a PoF. Anyone who says it is giving you the wrong information.

A gift is a contract, where a money is given to you and the consideration is "love and affection." This consideration is present only when the donor is a person related to you by blood and not when it is a third party, unrelated to you. It will be next to impossible as to why a person not related to you gift you money and this will be a big red flag.

Also, a gift deed is not notarized document like what people think. It is a document that has to be drafted as per the laws of gift or transfer of property in your country of residence.

Gift, as defined under law is the “voluntary transfer of property (movable or immovable) from one person (the donor or grantor) to another (the donee or grantee) without full valuable consideration (exchange of money or property), or an expectation of return. When executing the gift deed, it should meet the formalities of the country in which the gift deed is being executed.

See https://www.getgcms.com/blog/proof-funds-requirement-express-entry/

 

[Jawad88]

You cannot receive a gift from a friend and show this as a PoF. Anyone who says it is giving you the wrong information.

A gift is a contract, where a money is given to you and the consideration is "love and affection." This consideration is present only when the donor is a person related to you by blood and not when it is a third party, unrelated to you. It will be next to impossible as to why a person not related to you gift you money and this will be a big red flag.

Also, a gift deed is not notarized document like what people think. It is a document that has to be drafted as per the laws of gift or transfer of property in your country of residence.

Gift, as defined under law is the “voluntary transfer of property (movable or immovable) from one person (the donor or grantor) to another (the donee or grantee) without full valuable consideration (exchange of money or property), or an expectation of return. When executing the gift deed, it should meet the formalities of the country in which the gift deed is being executed.

See https://www.getgcms.com/blog/proof-funds-requirement-express-entry/

Thank you for your kind reply. I actually received the money from my brother. It was convenient for him to hand the cash to his friend who lives in France while he was on vacation in our home country. His friend wired the money 2 weeks later after he went back to France. Is it okay if I ask my brother to get a gift-deed statement and a notarized affidavit explaining the circumstances? will that also require an affidavit from the friend stating he just transfered what my brother gave him? will that be enough?

Thanks a lot for your help,
Jawad,

 

[legalfalcon]

Thank you for your kind reply. I actually received the money from my brother. It was convenient for him to hand the cash to his friend who lives in France while he was on vacation in our home country. His friend wired the money 2 weeks later after he went back to France. Is it okay if I ask my brother to get a gift-deed statement and a notarized affidavit explaining the circumstances? will that also require an affidavit from the friend stating he just transfered what my brother gave him? will that be enough?

Thanks a lot for your help,
Jawad,

I have already answered your question. Please read it carefully. The gift deed has to be executed in accordance with the laws of the country of the donor.

IRCC clearly states that the funds you have should not be borrowed. How you interpret it is entirely upto you.

 

[Jawad88]

I have already answered your question. Please read it carefully. The gift deed has to be executed in accordance with the laws of the country of the donor.

IRCC clearly states that the funds you have should not be borrowed. How you interpret it is entirely upto you.

Thanks again for your answer. I will inquire about the gift-deed related laws in my country. I know this is a peronal matter but I wanted to clarify that I haven't borrowed the money; I received a sum of almost $4000 as a gift from my brother, who is doing well with his business, through his friend.

Thanks for your help,
Jawad,

 

[nirmiti]

So it is okay that we can take money from Parents or brother as a gift??. There will be no tax applied in Canada after transferring money ??
Also how many times they could gift us in a year & limit of same per year ???

 

[Buraira]

D

You cannot receive a gift from a friend and show this as a PoF. Anyone who says it is giving you the wrong information.

A gift is a contract, where a money is given to you and the consideration is "love and affection." This consideration is present only when the donor is a person related to you by blood and not when it is a third party, unrelated to you. It will be next to impossible as to why a person not related to you gift you money and this will be a big red flag.

Also, a gift deed is not notarized document like what people think. It is a document that has to be drafted as per the laws of gift or transfer of property in your country of residence.

Gift, as defined under law is the “voluntary transfer of property (movable or immovable) from one person (the donor or grantor) to another (the donee or grantee) without full valuable consideration (exchange of money or property), or an expectation of return. When executing the gift deed, it should meet the formalities of the country in which the gift deed is being executed.

See https://www.getgcms.com/blog/proof-funds-requirement-express-entry/

Dear Legal Falcon,

I am struggling with a POF situation in which your guidance and experience might be helpful.

I have the following queries on Proof of Funds and would be grateful, if I can get your expert advice on this:

1. Should the gift deed be made before or after receiving ITA.

2. When should be the funds transferred as a gift from my father, after making the gift deed or before making the gift deed?

3. Do I need to show the bank statements of this acccount in case of Gift Deed?
If yes, then how much old months statement do we require in case of Gift deed.

I will be grateful for your response.

 

[Bilal148]

Can CIC ask for donor's statement before the transfer was made? Or to verify donor's source of income?