Buying Commercial Property · glossary
A letter that lets someone rely on a report as if it were addressed to them. Moorland's closure report was addressed to Holmfield, so its reliance letter let Fellgate and its bank rely on it too. Holmfield may not agree to change or withdraw either document. Definition: Reliance Letter · Chapter 6 · see Closure report
Explained in Chapter 6, Searches, of Buying Commercial Property.
The main page for this term is Reliance letter, in Legal Due Diligence.
Moorland therefore also issued a reliance letter. It lets Fellgate and Wharfedale, the bank lending Fellgate part of the price, rely on the report as if it were addressed to them. Clause 6.4 records the letter. Clause 6.3 records the removal and gives Fellgate a promise it can sue on…Read Chapter 6, Searches →
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the letter dated 8 May 2026 in which Moorland allows the Buyer and the Buyer's lender to rely on the Closure Report as if it had been addressed to them;Read the definition in the document →
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