Opinion of Borrower's Counsel
(FL)

Summary

This opinion of borrower's counsel template may be used in conjunction with a secured lending transaction for the acquisition of real property in the state of Florida and provides the lender with certain assurances regarding the borrower and the guarantor, including enforceability of the loan and mortgage against the borrower, guarantor, and loan collateral. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template incorporates Florida law. The opinion is likely to be listed as one of the deliverables to the lender as a condition to closing in the loan commitment letter, the loan agreement, or the mortgage. This opinion assumes that the borrower and the guarantor are corporations. If either the borrower or the guarantor is another type of entity or is not an entity at all, the template will need to be revised accordingly to properly reflect the actual parties to the transaction. For more on opinion letters in commercial real estate transactions, see Opinion Letters in Commercial Real Estate Financing Transactions (FL).