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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Solicitor Information


Synonyms:attorney information, law firm, lawyer contact, solicitor contact information
Filed Under: legal-contracts, mortgages
Tags: contract, legal, mortgage
 

Definition of solicitor information

solicitor information
1. When applying for a mortgage, your broker will require the contact information of your solicitor (or "lawyer" in layperson terms) that will be handling the legal documents needed for the transfer of title. This contact information typically includes name and location of the law firm, and the solicitor’s name, telephone, facsimile and e-mail address. If you do not have a solicitor, ask your mortgage broker for a recommendation.

Related Terms and Acronyms:

  • agreement of sale (AOS)   A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
  • credit bureau (CB)   A company that collects and sells information about how people handle credit. It issues credit reports that list how individuals manage their debts and make payments, how much untapped credit they have available and whether they have applied for any loans. The reports are made available to individuals and to creditors who profess to have a legitimate need for the information.
      ➥  Company that determines one's credit worthiness.
  • credit history   A record of an individual's or company's past borrowing patterns and whether or not debts were repaid on time.
  • document needs list   An inventory of papers a lender needs to underwrite a loan, usually including pay-cheque stubs, bank statements and tax returns.
  • insurance attorney   An attorney who works with insurance law.
  • legal fees and disbursements   Charges paid on your behalf by a solicitor that are in addition to professional costs.
  • loan   Letting another party use something of value temporarily.
  • real estate attorney   A lawyer who specializes in the transfer of land and buildings and property tax issues.
  • social insurance number (SIN)   Every person who has an income or pays taxes must apply for this number, which is assigned by the Government of Canada. You must, by law, provide this number to financial institutions with which you have an interest-bearing deposit account.
      ➥  A nine-digit number that you need to work in Canada or to have access to government programs and benefits. Banks may also request your SIN for tax purposes or to verify credit checks.
  • verification of employment (VOE)   Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.

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