Korean Jeonsae Apt for Assets

[BaboJeff 0]

Hello all,

My wife and I will be leaving South Korea for the States.  We have over $250,000 tied up in our jeonsae apartment.  In a jeonsae apartment you put down a lump of cash, sort of like a large deposit.  There is no rent to pay and upon leaving the apartment (when the owner finds a new tenent) you will receive all of your money back.  Our contract, which we have extended a few months, is up after the interview, so for us to get our money now, we would have to break contract and lose $25,000.  We have moved 3 times and have never had any difficulty getting our money.  I have called and emailed the USCIS, and I have been told the same thing 3 separate times: Property can be used as an asset if you can get your money back within one year without any difficulty. (Immigrant Visa Unit, Seoul: "Evidence of must be available in the United States for the applicant's support and must be readily convertible to cash within one year. ")  However, on some local Korean blogs, people report that jeonsae apartments are not accepted.  I've searched around this website and found similar situations, but in our case we do not own the apartment, nor are we renting it.  My question: Is a jeonsae apartment accepted as a valid asset?  I just recently found this website and our interview is next week, so I would greatly appreciate a prompt reply.

Thank you,

Jeff

[Ryan H 3,892]

Moved from Progress Reports to Process & Procedures.

[BaboJeff 0]

Sorry about that.  Thanks for the switch.

[BaboJeff 0]

Well, interview done - we passed.  Apparently, we didn't need to show assets as our foreign income, which was over poverty, was accepted.  I found it strange as the instructions deliberately say to write your "Total Income" from the 1040s, which is 0, as my income is from a foreign entity, but I didn't ask questions.  So, if someone is in the same boat, I'm not sure if a jeonsae apartment is accepted as valid assets, but your foreign income is.  Good luck, everyone.

[Gpetroshuk 1]

Congratulations on passing the interview!! I am filing from Korea as well, just have a couple of questions for you if you dont mind. My husband has his interview April 10th so we are trying to prepare our paperwork. 

1. When did you have to show all the "proof of marriage" paperwork? other than marriage certificate...but photos, emails, letters, etc

2. Did they tell you how long it would be before she received her visa in hand?

3. Did you have to show some sort of proof of where you will live and work in US?

 

any help would be appreciated!

[BaboJeff 0]

Hello Gpetroshuk,

 

Thanks.  No worries, I'd like to help.

1. We gathered some photos and a Korean "family registration certificate" for the "proof of marriage" and brought them with us for the final interview, however he either glanced at them quickly or they were not needed.  We have been married for almost 6 years and have a 3-year-old son (we also brought his birth certificate and passport ID page). I was surprised at how easy the interview was and how friendly they were.
2. After we passed the interview, they mailed us a packet of our paperwork that we have to give to immigration once we land in the States along with my wife's passport with her visa.  Our interview was on a Monday; we received the visa within the week.  
3. I did not have proof of where we will live or work in the US.  We plan to live with my parents as we get settled and we do not have employment, yet.  However, I did meet the "proof of residency" requirement with proof of a valid US drivers license and a US bank account.  He also asked us what our plan was, which I have heard can be a deciding factor in whether you pass or not.  If you don't have a well-thought out plan of returning to the states, if you're just going to wing it, they probably won't like that. 

Of all the information that we gave him, he handed about half of it back to us.  We went through the checklist provided and included everything we felt of relevance.  The one thing we were stressing over was about my above question, about using jeonsae for assets, but that turned out not to be a problem.  If you need quick assistance you can call (02) 6009-9170 or email support-korea@ustraveldocs.com or ask me here.  Good luck.

 

[Crystal486 0]

@BaboJeff Hi.^^ I was just wondering when you applied for the I-130... how long it took for the email to come after....and how long you waited for the interview date?^^

 

We're on day 48 of waiting for the I-130 approval, so I'm getting a little anxious.:(

[BaboJeff 0]

Hello Crystal486,

 

Yeah, we got anxious 2 and a half weeks after the initial I-130 interview and emailed the USCIS.  Their reply was it is standard to wait 30-60 days; after 60 days if you haven't received a reply to contact them again.  Our approval arrived not shortly after that.  It should arrive soon.