Folks ? What exactly are "unencumbered" funds ?

[CastAway]

On my PR application it mentions that funds taken to Canada should be "unencumbered". What does this mean exactly ?

Let me give you guys some examples :

1) Suppose I owned some investment properties. Would I have to sell them before moving to Canada ? The condos are not "free and clear" and I would be making an income off of them. Would this income NOT be considered
"unencumbered" ?

2) Suppose I had the 12 grand "cash in hand" proof of settlement funds and get my PR visa. The CIC would give me a 12 month travel window, right ? Well suppose that within those 12 months I were to take a
$ 500 000 loan from my bank. Keep the money in my home country, and have it wired to me 10 K a month once I´m settled in Canada ?

Would the 500 K be considered "unencumbered" ?


Thanks guys

[Alpha11]

easly accessible, without having to go through a process to convert it into liquidity.For instance money in your checking account is unemcumbered.Your own money with no string attached free of loan or credit cards so on..

[CastAway]

Thanks for the feedback ALPHA. I recently bought 10000 CADs , would these be considered unencumbered ? Would I have to physically take this money to the Embassy upon demand of the POSFs (Proof of Settlement Funds) ?