Can I use the same lawyer as my lender in Saskatchewan?
This answer covers the law of Saskatchewan.
Whether one lawyer can act for you and your lender depends on your lender's requirements and on the lawyer's professional rules, so ask both before you agree. Whether your lender will accept your choice of lawyer depends on the lender, so it is worth confirming with them and with a lawyer.
A conflict of interest arises when a lawyer's duties to one client could work against another client. Your interests and your lender's usually line up, but they can pull apart if a problem comes up, such as a title issue or a delay in funds. Lawyers have professional rules about conflicts, and how they apply to your situation is something to ask the lawyer directly.
Consider asking your lender whether you may choose your own lawyer, and ask any lawyer you are considering who they would be acting for. In a standard Law Society offer-to-purchase template, each party pays their own lawyer, and the purchaser pays the Land Titles Registry fees to register the purchaser's mortgage. Ask for a written estimate that shows who is being paid for what, so there are no surprises at closing.
Key takeaways
- Whether one lawyer can act for you and your lender depends on the lender's requirements and the lawyer's professional rules.
- A conflict of interest arises when a lawyer's duties to one client could work against another client, so ask how the lawyer handles it.
- You can ask your lender or broker whether you may choose your own lawyer instead of the one they suggest.
- In a standard Law Society offer-to-purchase template, each party pays their own lawyer, so ask for a written estimate showing what you are paying for.