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Discover the benefits of finance borrowing for buying a business and the risks of personal guarantees if the business fails. ILA Australia provides legal advice to business loan personal guarantors.
Electronic Witnessing of Statutory Declarations in Australia Statutory declarations are an integral part of legal and administrative processes in Australia. They allow individuals to make
Lenders and other parties present guarantees in different ways. Sometimes, they appear as distinct documents separate form the main transaction of loan, and other times,
Helping Your Children Obtain Their First Home Loan: A Guide for Australian Parents As a parent, helping your children take their first steps onto the
What is it? The ‘Australian Legal Practitioner’s Certificate 2’ is an official form issued by the Law Institute of Victoria (LIV) for use by lawyers
Buying a first home is a significant milestone, often filled with excitement and dreams for the future. In today’s property market, many young couples find
Self Managed Superannuation Funds (SMSFs) have become a popular choice for Australians looking to take control of their retirement savings. However, navigating the financial regulations
Today, we will delve into the intricacies of mortgages in Australia, covering what a mortgage is, how it gets registered on the title of a
What is the Cost for Personal Guarantor Legal Advice & Certificate? Law firms can vary greatly in the fees they charge for guarantor clients needing
Providing a guarantee can be a crucial step in various situations, such as when you’re helping a friend or family member with a loan, getting
In the digital age, many legal processes have transitioned to electronic formats, making it easier and faster to complete transactions. However, certain legal documents still
Legal Issues Faced by Lawyers Advising Directors on Personal Guarantees In many cases, the company and its directors may believe that having one lawyer handle
Understand the risks of personal guarantees as a company director in Australia. At ILA Australia, we provide legal advice on your business finance.
Ensure your legal matters are secure with ILA Australia. Our Queensland-based law firm specialises in independent legal advice online, prioritising identity verification to maintain confidentiality and prevent fraud. Trust our expert team and robust verification processes for reliable, professional legal services via video calls.
What is it? The ‘Schedule 2: Declaration by Third Party Mortgagor, Guarantor, Surety Mortgagor or Indemnifier for the Borrower/Grantor of a Security Interest‘ is an
This unique legal structure, often used for asset protection and tax planning, comes with its own set of challenges and considerations, particularly when it comes
What is an Independent Legal Advice Certificate? An independent legal advice certificate is a document produced by a qualified solicitor. It is directed towards the
Independent legal advice certificates are required by many lenders when providing loans to a company, and lender requires extra security from a personal guarantor. Because the personal guarantor is not ‘directly’ liable to repay the loan to the lender, legal advice is required to ensure the guarantors know their own personal risks and obligations to pay money to the lender in the event the borrower is in default of the loan.
We focus on providing this independent legal advice to personal guarantors for many loan types, and act quickly, efficiently, and all for fixed fees published on our website.
A legal advice certificate confirming that a personal guarantor has obtained independent legal advice about the risks and obligations associated with being a third-party guarantor to someone else’s financial lending.
Business lenders often requires directors, shareholders or others to personally guarantee a business loan. It acts as extra security and when the guarantor is not going to benefit, they likely need to obtain legal advice on the guarantee terms.
For super fund loans, each SMSF Member must usually personally guarantee the borrowing for the SMSF Trustee. You’ll need to see a lawyer to obtain legal advice (as personal guarantor) on the effect of these SMSF mortgages and the potential risks involved.
Lenders often require directors, shareholders or trust beneficiaries to personally guarantee a property loan. It acts as extra security and when the guarantor is not going to benefit, they likely need to obtain legal advice on the guarantee terms.
Legal Advice required by Personal Guarantors as a Special Condition of a Loan. Including:
No Problem! Some lenders require the solicitor providing the legal advice to witness a statutory declaration stating you received the legal advice.
We can witness those documents online, via an audio-visual link.
We can either sign entirely electronically, or exchange ‘wet’ signed documents via Express Post.
No Problem! Once we have completed your legal advice session, we provide you with a ‘wet’ signed independent legal advice certificate.
We will also provide you with a scanned copy of the certificate plus we express post the original certificate to you, the bank, the lender or the broker, as you might wish to instruct us to.