POF Joint Account Clarification

[sushsmart15]

The funds that I will use as POF for my application have been present since more than 8 months in a joint account held by both my parents and me i.e. all 3 of us. Now, I have got a Gift deed with my father's declaration and my mother as a witness and a cheque equivalent to 12,500 CAD.

Now, if I show the bank account statements of this account as POF, will this be fine and accepted?
Or do I need to get this cheque transferred into an account which belongs to only me.


Would appreciate a prompt reply.

 

[Asivad Anac]

If your name appears on this joint account, you don't need a gift deed or cheque because, technically, it is your money as well. You only need a signed self-declaration from both your parents that they have no reservations against you utilizing 12,000 CAD from this joint account as your POF.

 

[sushsmart15]

Thank you very much Asivad for your prompt response. Highly appreciate it.
Now, I need to know one more thing. Can I use this same POF to apply for SINP as well - where they have mentioned that the Bank account should be in the name of the Principal Applicant only.

 

[Asivad Anac]

Thank you very much Asivad for your prompt response. Highly appreciate it.
Now, I need to know one more thing. Can I use this same POF to apply for SINP as well - where they have mentioned that the Bank account should be in the name of the Principal Applicant only.

Provinces can, and do, have their own regulations and you will have to follow those guidelines while applying to the provinces.

 

[sushsmart15]

Got it. Thanks a lot Asivad. You are the person everyone relies on.