Reliance Parties to Third-Party Opinion Letters in Commercial Real Estate Finance Transactions
Publication| Real Estate Services
An opinion letter in a commercial real estate finance transaction will generally be addressed to the opinion recipient, usually one or more lenders in the transaction. Except if expressly stated otherwise in the opinion letter, the only person entitled to rely on the opinion is the opinion recipient identified in the opinion letter, usually the addressee. There is no need to state this limitation in the opinion letter, as the limitation is implicit in all opinions.