A third party legal opinion, commonly referred to as an “Opinion Letter”, is a letter issued by an attorney to advise a client of legal risks and resolve legal uncertainties. An Opinion Letter assures the recipient that their conduct is legal and confirms within the existence of legal relationships. Opinion Letters are commonly issued in the context of large transactions and may be issued by either buyer or seller’s counsel. Opinion Letters are typically issued in connection with commercial loans, real estate transactions, secured transactions, and mergers/acquisitions.
An Opinion Letter may opine on jurisdictional matters, whether a company is duly organized under state law, whether the company is duly authorized to enter into the transaction, or whether an agreement is enforceable. Such letters may also opine on the issue of lien priority in the context of a secured transaction or whether a document is qualified to be properly recorded after execution, such as a mortgage.
The attorneys at May Oberfell Lorber frequently represent sellers, buyers, and lenders and issue Opinion Letters while serving as local Indiana and Michigan counsel.
This article is for information purposes only and is not intended to constitute legal advice.