Real Estate Glossary

Real Estate Law Glossary

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There are currently 2 names in this directory beginning with the letter I.
Independent Legal Advice
A requirement set out by the mortgage lender that a person who is not the borrower and who is taking on legal responsibility for a mortgage loan (e.g., a Guarantor) consult with an independent lawyer to discuss the commitment that they are making and the risks that they are undertaking.

Interest Rate
The percentage of the principal charged by the lender for borrowing money.