Certificate of Independent Legal Advice
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Contents
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What Is a Certificate of Independent Legal Advice for TD Bank?
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When Do I Need a Certificate of Independent Legal Advice with TD Bank?
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Details a Certificate of Independent Legal Advice Should Contain
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Does My Certificate of Independent Legal Advice Need to Be Commissioned?
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Frequently Asked Questions
What Is a Certificate of Independent Legal Advice for TD Bank?
A Certificate of Independent Legal Advice (ILA) is a document that confirms you’ve received independent legal advice from a qualified lawyer. It confirms that a legal professional explained the legal implications, risks, and consequences of a matter, and you understand their advice.
This certificate helps demonstrate that certain decisions were made freely and knowingly, without pressure or coercion. You often require one in situations involving significant legal or financial consequences.
A Certificate of Independent Legal Advice:
- Confirms you’ve received legal advice from a professional
- Verifies that you were informed of your rights, obligations, and risks
- Provides evidence that you’ve made an informed and voluntary decision
- Helps protect against future claims of misunderstanding, undue influence, and coercion
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When Do I Need a Certificate of Independent Legal Advice with TD Bank?
You may require a Certificate of Independent Legal Advice to ensure you’re aware of the consequences of entering into an agreement or transaction. Often, the other party, a lender, or a court requires proof that you’ve received independent legal advice before proceeding.
- Entering into a mortgage, loan, or line of credit
- Especially where one borrower is guaranteeing or securing another’s debt
- Signing a TD guarantee or indemnity, such as when supporting a spouse, family member, or business loan
- Pledging property or assets as security for a TD loan
- This includes jointly owned property or family assets
- Agreeing to TD lending documents where one party might be at a disadvantage
- This can be due to unequal bargaining power or financial dependence
- Waiving rights or signing acknowledgements required by TD as part of a financing or refinancing transaction
Details a Certificate of Independent Legal Advice Should Contain
A Certificate of Independent Legal Advice typically includes the following information:
- Your information: Full name, address, and identifying details
- Your lawyer’s information: Full name, law firm, contact, and licensing details
- Description of the legal matter: An outline of the agreement or transaction at hand
- Confirmation of advice: A statement that the lawyer provided independent legal advice specific to the matter
- Understanding and acceptance: Confirmation that you understand the advice, risks and consequences
- Voluntary decision: Confirmation that you weren’t under pressure or coercion
- Waiver of claims: A release of claims against the lawyer regarding the advice provided (if applicable)
- Signatures and dates: Your and your lawyer’s signature with dates
- Commissioning: Signature and seal of a notary public or commissioner of oaths
- It’s best to check whether TD requires commissioning for your specific situation
Does My Certificate of Independent Legal Advice Need to Be Commissioned?
It depends on the circumstances and the requirements of your specific case. Often, a Certificate of Independent Legal Advice must be commissioned.
Commissioning is more likely to be a requirement in the following circumstances:
- The certificate may is reviewed by banks, lenders, courts, or third parties
- The document is being used beyond the provincial or federal borders
- The recipient specifically requests a notarized or commissioned copy
Commissioning adds credibility by confirming the signer’s identity and verifying that the signature was made voluntarily.
During commissioning, you swear or affirm that the contents of your Certificate are true before the official. You’ll sign the Certificate while the official witnesses your signature, and they’ll sign it too. Check out our blog to learn more about the process of commissioning.
You can meet with a notary public online to have your Certificate of Independent Legal Advice commissioned in 7 minutes, from anywhere.
Frequently Asked Questions
A Certificate of Independent Legal Advice is generally considered evidence that an individual has received independent legal counsel. However, it may be subject to challenge or scrutiny in certain circumstances.
If the following applies, a Certificate of Independent Legal Advice can be challenged or invalidated:
- The lawyer is proven to have a conflict of interest
- The lawyer failed to explain the legal implications appropriately
- The lawyer used coercion to influence the signer to sign
It’s crucial that an independent lawyer acting in the individual’s best interests provides advice.
Although not always mandatory, this Certificate is often required when conflicts of interest, power imbalances, or significant legal implications are possible.
Both parties to a legal agreement aren’t always required to submit a Certificate of Independent Legal Advice. It’s best to confirm with the recipient organization.
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Certificate of Independent Legal Advice
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