Structuring Local Counsel Opinions in Real Estate Finance Transactions
Navigating Assumptions, Qualifications, Limitations and Interplay Between Local and Lead Counsel Opinions
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide counsel with the tools for drafting local counsel opinions for real estate finance transactions, with reference to the ABA Real Estate Finance Opinion Report and 2016 Supplement on Local Counsel Opinion Letters. The panel will also discuss the potential risks of liability in rendering opinions and best practices for reducing such risks.
- Introduction—ABA Opinion Report and Local Counsel Supplement of 2016
- When local counsel opinion is necessary—varying roles of local vs. lead counsel
- Structure of local counsel opinion
- Role of opinion giver as local counsel
- Definitions, applicable documents, jurisdiction, reliance on other sources
- Use and reliance, effective date, governing law, disclaimer or implied opinions
- Potential risks of liability and protections for the opinion provider
The panel will review these and other key issues:
- What are the roles and responsibilities of the local and lead counsel in providing their respective opinions?
- What guidance does the 2016 Supplement provide with regard to the format and substance of the local counsel opinion?
- What due diligence steps are critical for counsel preparing commercial real estate finance opinion letters to minimize risks and liabilities?
Michael J. Bordy
Michael J. Bordy, A.P.L.C.
Mr. Bordy is a transactional attorney who has 26 years of experience handling a variety of issues in business,... | Read More
Mr. Bordy is a transactional attorney who has 26 years of experience handling a variety of issues in business, corporate law and real estate. He regularly advises clients on real estate finance and leasing. His expertise encompasses real estate contracts, property rights, commercial property transactions, eminent domain, zoning, land-use and building permits, and negotiating real estate agreements.Close
Scott J. Stein
Mr. Stein focuses his practice on real estate, sales, leasing and development, corporate transactions, structuring and... | Read More
Mr. Stein focuses his practice on real estate, sales, leasing and development, corporate transactions, structuring and strategic planning, loan financings, and hospitality matters. He is speaker and published author on real estate issues, including legal opinions.Close