Local Counsel Opinions in Real Estate Finance Transactions

Strategies for Maximizing Efficiency and Reducing Risks for Opinion Givers

A live 90-minute premium CLE webinar with interactive Q&A


Thursday, May 2, 2019 (in 7 days)

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE webinar will provide counsel with tools for drafting local counsel opinions for real estate finance transactions, referencing recently published opinion reports. The panel will also discuss ethical considerations and liability risks associated with the rendering of local counsel opinions and best practices for reducing such risks.

Description

Commercial real estate loan transactions are usually conditioned upon opinions of counsel. Lenders will often require lead counsel and local counsel opinions when, for example, the lead counsel's license is from a different state than the situs of the property subject to the mortgage loan.

Local counsel rendering an opinion must understand, and define with lead counsel and the client, as appropriate, the local counsel's role in the transaction and the areas for which local counsel is specifically responsible. Local counsel must also render an opinion that accurately reflects local state law and is in a format consistent with lender requirements (as negotiated) and customary opinion practice.

Listen as our authoritative panel explains best practices when drafting local counsel opinion letters for commercial real estate finance transactions.

READ MORE

Outline

  1. Defining the scope of the engagement of local counsel
  2. Document review and due diligence, including ethical considerations relating to recommended changes to the draft loan documents under the law of the opinion jurisdiction
  3. Substantive opinion issues:
    1. Opinion requests:
      1. Entity opinions
      2. Usury and enforceability opinions
      3. Choice of law opinions
      4. Non-contravention and no violation of applicable law opinions
      5. No Litigation Opinions
    2. Assumptions, qualifications and exceptions
    3. Reliance wording
  4. The relevance of "customary practice" and published opinion reports, in particular, the American Bar Association/American College of Real Estate Lawyers/American College of Mortgage Attorneys Real Estate Financing Opinion Report and Local Counsel Opinion Supplement
  5. Theories of opinion-giver: Liability and best practices for minimizing liability risk

Benefits

The panel will review these and other critical issues:

  • What are the roles and responsibilities of the local and lead counsel in providing their respective opinions?
  • What guidance do published opinion reports provide about local counsel opinions?
  • What are the crucial due diligence steps for counsel preparing commercial real estate finance opinion letters to minimize risks and liabilities?

Faculty

Gerson, Gordon
Gordon L. Gerson

Atty
Gerson Law Firm

Mr. Gerson emphasizes real estate and business transactions, real estate financing, and loan recovery in his...  |  Read More

Prince, Doug
Doug Prince

Shareholder
Buchalter

Mr. Prince has over 36 years’ experience in transactional real estate, real estate finance, and commercial asset...  |  Read More

Live Webinar

Buy Live Webinar

Live Webinar

$347

Buy Live Webinar & Recording
A savings of $250

Live Webinar & Download

$444

Live Webinar & DVD

$444 + $19.45 S&H

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$347

Download

48 hours after event

$347

DVD

10 business days after event

$347 + $19.45 S&H