I-864 Real Estate Assets

[JeanneAdil 6,511]

52 minutes ago, arken said:

Agreed. I'm assuming the other owner, being OP's spouse and the intending immigrant, would agree. If no, they can live in their beautiful apartment for life. 😁

 

To add one more point: 

OP needs to see if there are any restrictions on exporting money out of that country. If I have assets in my other country, good luck for me using that for sponsorship. I cannot bring/transfer money from Nepal to the US (legally) and US embassy in Nepal knows it.

• The applicant must show that the assets can be removed from the country where they are located. Many countries have limits on cash or liquid assets that can removed from the country.
   

yes that's part of the instuctions for the I 864 

and OP it is always helpful to know the country in regards to money transfers 

plus a complete understanding of paperwork needed in this country to transfer large amounts of cash 

 

You may bring large sums of money with you in the form of cash, money order, or traveler's checks. There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105. All forms must be filled in completely and truthfully.

[pushbrk 12,898]

9 minutes ago, JeanneAdil said:

•  

You may bring large sums of money with you in the form of cash, money order, or traveler's checks. There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105. All forms must be filled in completely and truthfully.

 

Just a note on that.  No reason to fear bringing more than $10,000 with you in currency (except the inherent risk to carrying large sums of cash).  You just fill out a declaration form completely and truthfully.  Doing so will trigger a secondary inspection that adds some time to your entry.  If you have a connecting flight, be sure to allow even more time between scheduled arrival and the connecting flight.  The only time I did this, there was no connecting flight to worry about but it DID take extra time.

[Snirgeu 10]

Hi all. 

 

Thanks. I've seen these instructions but wanted more information regarding the ability to use a sponsor's foreign asset as those websites, one of which is a VJ partner and I'm assuming experienced in the matter specifically state a sponsor asset may only be used if it US based. 

 

As for the other restrictions, it's all fine. It is an apartment in which I live with my spouse and daughter. It can be liquidates and I can transfer money to the US from my country of residence. The apartment is under both our names, the mortgage is under both our names. 

 

The only thing I wanted to know is technical, whether I can write the full amount under the spouse asset since it's under both our names. Reason being of course the reference to sponsor only being allowed to use US based assets and visa applicant allowed to use foreign assets. 

[Snirgeu 10]

13 hours ago, pushbrk said:

Wondering why she doesn't mention it as joint property instead of he only owns half. If it is, then the property is only listed once at its full value, not twice as half for each of them.  OP needs to clarify the ownership.

 

Rereading explains she thought she couldn't use her half.  Carry on.

Hi,

 

The apartment is jointly owned by me and my spouse. I merely wanted to know if I should put down the amount of the apartment equity under my name and then the same under his name, or do it 50-50 or not write under my name at all and just under his name since it is a foreign asset and like I said, both those websites state that the sponsor may only use a US based asset while the visa applicant may use foreign assets. One of those websites is a VJ partner so I did not want to disregard what they wrote without asking here.

 

Thanks!

[pushbrk 12,898]

2 hours ago, Snirgeu said:

Hi,

 

The apartment is jointly owned by me and my spouse. I merely wanted to know if I should put down the amount of the apartment equity under my name and then the same under his name, or do it 50-50 or not write under my name at all and just under his name since it is a foreign asset and like I said, both those websites state that the sponsor may only use a US based asset while the visa applicant may use foreign assets. One of those websites is a VJ partner so I did not want to disregard what they wrote without asking here.

 

Thanks!

"These websites" are "wrong".  You can claim the equity as yours and document it as jointly held.  No problem.

[Snirgeu 10]

1 hour ago, pushbrk said:

"These websites" are "wrong".  You can claim the equity as yours and document it as jointly held.  No problem.

Thank you for your reply.

 

Then my original question is the same. Should I enter the full amount (less mortgage) in Part 7 Item 2 and then again in Part 7 Item 7? Or only in Item 2? 

[pushbrk 12,898]

6 hours ago, Snirgeu said:

Thank you for your reply.

 

Then my original question is the same. Should I enter the full amount (less mortgage) in Part 7 Item 2 and then again in Part 7 Item 7? Or only in Item 2? 

Enter the full amount of equity as YOUR asset.  The documentation will indicate it is jointly owned.  If you list it twice, it will be doubled when the form does its own addition.

[Snirgeu 10]

Thank you very much for your replies and patience. You have been very helpful.