The gift / loan distinction has real consequences (repayment, debt calculation, taxation): describe the situation as it is, without arranging the facts to suit the institution.
In what situations is it requested?
- a down payment or credit application where the institution wants to know the origin of the funds;
- an immigration process where a relative financially supports the applicant;
- significant family assistance that must be documented;
- settling a dispute over a sum handed over without a contract.
What should the declaration contain?
- the identity of the person giving or lending and of the person receiving;
- the amount, date and method of transfer of the funds;
- the nature of the sum: a gift with no obligation to repay, or a loan with repayment terms;
- a statement of truthfulness from each signatory, as required by the recipient.
How does this relate to the declaration of financial support?
Regular financial support (housing, tuition) differs from a single sum given or lent. Depending on your situation, one or the other document may be appropriate.
Declaration of financial support
Can it be sworn online?
Yes, when the document and situation are eligible for remote oath commissioning, by videoconference.
Online oath commissioning in Québec: how does it work?
Assermentation Express
Assermentation Express is not a notary, a financial adviser or a tax adviser and does not legally characterize your agreement. This service is limited to receiving the oath or solemn affirmation on a document already prepared.