Why is my Nova Scotia bank requiring me to get “Independent Legal Advice”?

Why is my Nova Scotia bank requiring me to get “Independent Legal Advice”?

If you have rights to a property in Nova Scotia, usually by way of the Matrimonial Property Act, but you are not an official owner on title to the property, the owner of the property must get your consent before they can sell or encumber it (like a mortgage or line of credit). In almost all of these circumstances, you will have to sign the legal paperwork as the ‘Releasor’, meaning you are releasing your right to prevent the property from being sold or encumbered.

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