Certificate of independent legal advice

Certificate of Independent Legal Advice (ILA)

In certain cases the lender will require that the borrower (or Guarantor, as the case may be) meet with his or her own lawyer to discuss the terms and conditions of the proposed mortgage.  This may occur in situations where the individual is acting as a Guarantor for a friend or family member, or where the mental state of the borrower may be in question.  The lawyer acting on behalf of the lender will send the closing mortgage documents to the lawyer providing ILA, and this lawyer will meet with the client and explain the mortgage to him or her.  Once done, this lawyer will complete a Certificate of Independent Legal Advice, which basically states that the lawyer has met with the client, explained the terms and conditions of the mortgage, and that the client attests that he or she is not taking the mortgage under duress or undue influence.

The following is an example of a Certificate of Independent Legal Advice.

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