Independent Legal Advice Made Easy
Navigating legal waters can be daunting, but at Deeded, we're here to provide you with the clarity and confidence you need. Our network of lawyers provides independent legal advice services that are tailored to your unique needs, ensuring that you're equipped with the knowledge and understanding to make informed decisions.
Starting at $599
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Etelka Curalli
Great service. Lovely team to deal with.
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Easy to use, priced well and less stressful than a traditional, in-person, lawyer.
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Deeded connects you with an experienced team dedicated to the type of independent legal advice you need. We match you with a real estate lawyer, and a friendly Deeded support team ready to help every step of the way.
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Frequently Asked Questions
Discover why thousands of clients trade the old way for the Deeded way. It’s simple, transparent, and dare we say... delightful?
What is Independent Legal Advice (“ILA”)?
ILA is advice that each person involved in a legal matter receives from their own lawyer. This advice is often required if one lawyer is acting for two or more clients who have a potential conflict of interest.
The lawyer providing you with ILA will not represent the Bank or any other interested party. ILA is provided for your benefit to ensure you understand the legal aspects of the reverse mortgage.
Why is ILA required to obtain a reverse mortgage?
ILA must be obtained by the legal titleholder of the property and, if applicable, any non-title holding spouse. ILA is a measure taken to ensure that all parties receive an explanation of the nature and effect of the mortgage documents from an impartial third-party lawyer.
ILA for non-title holding spouses
Your spouse is also required to obtain ILA if they do not hold legal title to your matrimonial home, namely because the mortgage becomes due and payable in the event the titleholder passes. A reverse mortgage could have an impact on the equity a spouse expects to receive upon the sale of their matrimonial home. ILA will ensure that a non-title holding spouse fully understands the potential outcomes of the reverse mortgage.
What happens in an ILA meeting – what do I get?
The mortgage documents will be delivered to the lawyer that is providing you with ILA and the lawyer will then meet with you to explain the documents before providing you with an ILA Certificate. An ILA Certificate evidences that you met with a lawyer to obtain ILA, and that the lawyer has explained the mortgage documents to you. As well, they confirm your understanding of the mortgage terms and conditions.
Why can’t I use my closing lawyer for ILA?
Your closing lawyer will represent you, as well as the Bank. To ensure that you receive truly impartial advice, a lawyer with no conflicting interest in your transaction is best suited to provide the ILA.
What if I don’t have or know a lawyer?
Your designated mortgage broker will be happy to direct you to a lawyer who can provide you with ILA.