Independent Solicitor's Certificate & Independent Legal Advice
Guarantor Certificates
Advising guarantors on the effect and risks of a personal or director's guarantee before they sign, and issuing the required certificate to the lender.
Borrower Certificates
Advising borrowers on loan and mortgage documents where a lender requires confirmation of independent legal advice before releasing funds.
Family Loan and "Bank of Mum and Dad" Certificates
Advising family members providing or receiving informal loans or security, so everyone understands their position before money changes hands.
SMSF Limited Recourse Borrowing Arrangements (LRBA)
Independent solicitor's certificates for trustees and members of self-managed superannuation funds entering LRBA transactions.
Retirement Village and Aged Care Contracts
Advising residents on retirement village and aged care contracts, a certificate often required before signing.
Certificates for Lenders, Brokers and Accountants
Issuing certificates directly to lenders, brokers, or accountants confirming a client has received independent legal advice.
Why Choose Garg Lawyers for Independent Solicitor's Certificates
- Fast turnaround so your transaction isn't held up
- Clear, practical explanation of what you're signing
- English, Hindi, and Punjabi spoken
Asked to get independent legal advice before signing a guarantee, loan, or SMSF document? Speak to Garg Lawyers before you sign anything.
What Is an Independent Solicitor's Certificate?
An independent solicitor’s certificate is a document confirming that a party to a loan, guarantee, or security document has received legal advice on its effect and risks, independently of the lender and other parties to the transaction. Lenders and institutions request this in a range of situations, not only large commercial loans. It is just as common in family lending, director guarantees, and superannuation transactions.
When Is a Certificate Required?
A certificate is typically requested in these situations:
– A person is guaranteeing a loan or business debt on behalf of someone else, including a company director guaranteeing a business loan;
– A family member is lending money or providing security to another family member and wants both parties protected;
– A self-managed superannuation fund is entering a limited recourse borrowing arrangement to acquire an asset;
– A person is entering a retirement village or aged care contract;
– A lender’s or broker’s compliance process requires confirmation that a client understood the documents before signing.
Our Process
1. You send us the loan, guarantee, or security documents for review.
2. We review the documents and prepare for your consultation.
3. We meet with you, in person or remotely, to explain the documents and your obligations.
4. We issue the signed certificate to you.
This article is general information only and does not constitute legal advice. For advice specific to your circumstances, please contact Garg Lawyers.