{"ok":true,"canonical_url":"https://dealroom.so/glossary/legal-opinion","api_url":"https://dealroom.so/api/public/glossary/legal-opinion","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"legal-opinion","term":"Legal opinion","group":"People and paperwork","definition":"A formal letter from an attorney, often confirming specific legal matters related to the business or transaction. Lenders typically require these to confirm the deal's legality and enforceability.","what_it_means":"Your lender will likely require legal opinions, such as confirmation that the seller has the authority to sell and that the loan documents are valid. Your attorney will review and help produce these, ensuring all legal aspects of the transaction comply with applicable laws.","url":"https://dealroom.so/glossary/legal-opinion","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"},{"slug":"closing-condition","term":"Closing condition","url":"https://dealroom.so/glossary/closing-condition"},{"slug":"indemnification-agreement","term":"Indemnification agreement","url":"https://dealroom.so/glossary/indemnification-agreement"},{"slug":"compliance","term":"Compliance","url":"https://dealroom.so/glossary/compliance"}],"related_questions":[{"question":"Is \"insurable interest\" always a legal requirement for obtaining business life insurance?","url":"https://dealroom.so/sba-7a/questions/is-insurable-interest-always-a-legal-requirement-for-obtaining-business-life-insurance"},{"question":"What if the business I'm acquiring has existing litigation or legal disputes?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-acquiring-has-existing-litigation-or-legal-disputes"},{"question":"Can a lender include unapproved legal fees in a Universal Purchase Package (UPP)?","url":"https://dealroom.so/for-lenders/questions/can-a-lender-include-unapproved-legal-fees-in-a-universal-purchase-package-upp"},{"question":"What if the business I'm buying has existing legal disputes or pending lawsuits?","url":"https://dealroom.so/sba-loans/basics/what-if-the-business-i-m-buying-has-existing-legal-disputes-or-pending-lawsuits"},{"question":"What if the business I'm buying has existing legal disputes or pending litigation?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-buying-has-existing-legal-disputes-or-pending-litigation"},{"question":"What if the business I want to buy has pending litigation or unresolved legal claims?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-want-to-buy-has-pending-litigation-or-unresolved-legal-claims"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Legal opinion","url":"https://dealroom.so/glossary/legal-opinion","source_type":"DealRoom Data"}}