Structuring Opinions of Counsel in Real Estate Finance Transactions

Assumptions, Qualifications, Limitations and Factual Certificates That Reduce Risks for Opinion Givers

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, January 11, 2018

Recorded event now available

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Program Materials

This CLE webinar will prepare counsel to draft third-party opinions for real estate finance transactions. The panel will cover the opinions required—including authority, enforceability and property-related opinions—and the assumptions, limitations and qualifications that counsel should include to limit exposure.

Description

Commercial real estate loan transactions secured by real estate are often conditioned upon a third-party opinion letter. This letter outlines the opinion-giver’s professional judgment on myriad legal issues related to the transaction as well as assumptions, limitations and use of the letter.

When rendering a third-party opinion, practitioners must ensure the accuracy and completeness of their opinion. Counsel preparing opinion letters face potential liabilities if the opinion is defective and negligence can be shown.

Certain assumptions and qualifications, as well as client certificates as to factual matters, can be employed to limit counsel’s exposure. The ABA Real Estate Finance Opinion Report provides a format that reflects customary practices generally accepted nationwide.

Listen as our authoritative panel explains best practices when drafting third-party opinion letters for commercial real estate finance transactions. The panel will discuss potential liabilities involved in rendering opinions and strategies for counsel to reduce risk in providing opinion letters.

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Outline

  1. Preparing commercial real estate finance opinions
    1. Range of opinions
    2. Assumptions
    3. Limitations
    4. Use of the opinion letter
  2. The ABA Opinion Report
  3. Potential risks of liability and protections for opinion preparer

Benefits

The panel will review these and other key issues:

  • What are the general responsibilities of the opinion giver?
  • What guidance does the Opinion Report provide for those involved in the opinion process?
  • What due diligence steps are critical for counsel preparing commercial real estate finance opinion letters to minimize risks and liabilities?
  • What assumptions, qualifications and limitations should counsel consider to limit the scope of opinions?

Faculty

Bordy, Michael
Michael J. Bordy

Principal
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

Stein, Scott
Scott J. Stein

Stein Law

Mr. Stein focuses his practice on real estate, sales, leasing and development, corporate transactions, structuring and...  |  Read More

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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:

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