Legal document verifying the origin of funds used in a transaction, prepared by a lawyer
A Source of Funds document is a legal document prepared by a lawyer that outlines the origin of a person’s funds or assets. The purpose of this document is to provide evidence that the funds being used for a particular transaction or investment are legitimate and do not involve any illegal activity such as money laundering or terrorist financing. The document typically includes information such as the name and contact details of the individual providing the funds, the nature of the funds, the source of the funds, and any accompanying documentation such as bank statements or tax returns. The Source of Funds document is commonly used in real estate transactions, investments, and other high-value transactions where proof of the legitimacy of funds is required.