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Debra, Lawyer
Category: Canada Law
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Experience:  Lawyer
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My thirty-year old son bought a condo 6 months ago. He was

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My thirty-year old son bought a condo 6 months ago. He was a first time home buyer. In order to have his mortgage approved I agreed to be a guarantor of his mortgage.
He has been living in his condo for 6 months.
Now, the lawyer who did the paper-work claims that a mistake was made and demands that I sign a new electronic document that is "acknowledgement and direction" to his law firm that is "a charge of the land described above" in which both my son and I are "Chargor(s)" and the bank is the "Chargee".
What does this mean?
Am I now on the title of the property? Am I tenant in common or part owner?
I just wanted to guarantee the mortgage.
Thank you for your question. My name is XXXXX XXXXX my goal is to provide you with the best possible answer.

To achieve that goal it may be that I will find that I need to gather further information from you. As well, it's quite possible that you may feel the need to ask me additional questions for further clarification.

But, please understand that as a careful lawyer I will always give you an honest answer even if the answer is sometimes not what you were hoping for.

This does not place you on title.

A charge on land is the mortgage.

This is just what you agreed to and nothing more.
Customer: replied 3 years ago.

thank you.

what is the impact/ramification of being a "chargor" of the property?


are there any other liabilities associated with being a "chargor" in addition to being a guarantor of the mortgage?




A charge is another term that means mortgage.

There is nothing at all different than what you agreed to.

You have no liabilities except if your son defaults on the mortgage.
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