Conveyance Law issues and coordinates loan opinion letters for institutional lenders, including national lenders for whom we serve as Iowa local counsel. Our opinions cover authorization and due execution, enforceability under Iowa law, and the specialized opinions required by Tax Increment Financing transactions, federal and Iowa historic tax credit deals, low-income housing tax credit deals, and other public-private transactions.
- Iowa enforceability opinion
Confirms loan documents are enforceable under Iowa law - TIF opinion
Confirms enforceability and assignability of a TIF rebate stream as collateral - Historic Tax Credit (HTC) opinion
Confirms federal and state HTC structuring and credit allocation - LIHTC / WHTC opinion
Confirms LIHTC partnership structure and credit eligibility - 10% test opinion
Confirms LIHTC carryover allocation requirements have been satisfied - 8609 opinion
Confirms placed-in-service eligibility for LIHTC - IFA 8T opinion
Iowa Finance Authority bond-related deliverable - Equity / Fannie Mae / HUD opinion
Specialized opinions for agency-backed financing - Tax abatement opinion
Confirms enforceability of urban revitalization or similar tax exemption
What our opinions cover
A standard institutional loan opinion in Iowa typically addresses the borrower’s existence and good standing, authorization to enter the transaction, due execution of the loan documents, the enforceability of the documents under Iowa law, the perfection and priority of any UCC security interests, and the absence of conflicts with the borrower’s organizational documents or applicable Iowa statutes.
Specialized opinions add to this base. For TIF, the enforceability and assignability of the rebate stream and any required city consents; for HTC and LIHTC, the structural integrity of the credit-receiving entity and the validity of any pass-through elections; for 8609 and 10% test opinions, the underlying LIHTC procedural compliance.
Iowa local counsel engagements
Many of the opinions we issue are for national lenders whose principal counsel is out of state. We work as Iowa local counsel and opine on the issues of Iowa law that the lead lender’s counsel is not positioned to opine on. This includes Iowa-specific issues around recording, mortgages, mechanic’s liens, the Iowa Marketable Record Title Act, and the procedural requirements that apply to TIF, urban renewal, and tax-credit-supported transactions. We coordinate with lead counsel on the form and scope of the opinion and deliver on the schedule the closing requires.
Pricing
A fixed quote before we engage.
Iowa enforceability opinions and specialized opinions, including TIF, HTC, LIHTC, equity, Fannie Mae, HUD, and tax abatement opinions, are offered at a flat fee of $7,500. Smaller-scope opinions are offered at a flat fee of $2,000. Opinions on unusually complex transactions or expanded document sets are quoted separately, and every fee is confirmed in writing before we engage.
Flat fees
Iowa Enforceability Opinion$7,500
TIF Opinion$7,500
Historic Tax Credit (HTC) Opinion$7,500
LIHTC / WHTC Opinion$7,500
Equity / Fannie Mae / HUD Opinion$7,500
10% Test, 8609, and IFA 8T Opinions$2,000
Routine engagements. The fee is confirmed in writing before the engagement begins.
Get Started
Working with our firm
If you’re underwriting a commercial real estate loan, structuring a construction facility, evaluating a TIF or tax credit-supported transaction, or working through a credit problem that’s developing, we’d be glad to talk. Early involvement on the document side is meaningfully cheaper than working out problems after closing.
Conveyance Law, PLC | Des Moines, Iowa | 515.519.3600
