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Re: estoppel - Landlord Forum thread 344604

Re: estoppel by MrDan (GA) on April 23, 2016 @17:20

                              
A basic lease clause sample;

Estoppel Certificates. From time to time, either Landlord or Tenant shall furnish, within ten (10) business days after request therefor, a signed certificate confirming and containing such factual certifications and representations as to this Lease as the requesting party may reasonably request.
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Re: estoppel by Anonymous on April 23, 2016 @20:28 [ Reply ]
could you please explain in everyday language, what that means, so that even an average high schooler could understand it.
    Re: estoppel by Anonymous on April 25, 2016 @13:20 [ Reply ]
    yeah,....really. I think what the OP was originally asking, dealt with a situation where someone was asking the LL for a verification (from a third party), (as of the asking date) that the lease, the tenant and the occupancy were real.

    While Mr Dan's clause is intentionally ''broad in form'' to give LL maximum flexibility,....the lawyer language is sort of::::...''say wha ???'''
    Re: estoppel by MrDan (GA) on April 25, 2016 @20:27 [ Reply ]
    From time to time, either Landlord or Tenant shall furnish, within ten (10) business days after request therefor, a signed certificate confirming and containing such factual certifications and representations as to this Lease as the requesting party may reasonably request.

  • 'From time to time'- Means from start of lease to end of lease

  • 'Either Landlord or Tenant shall furnish'- means that either the landlord or tenant is required to fill out an estoppel certificate(letter/form)

  • 'Within ten (10) business days after request'- means that the estoppel certificate shall be filled out and returned within ten(10) days after requested.

  • 'Signed certificate confirming and containing such factual certifications and representations as to this Lease as the requesting party may reasonably request- means that the landlord or tenant sign as confirming or non confirming that the information contained in the certificate is true and factual. The landlord or tenant can add any additional facts or conditions as may be needed to the certificate that are not contained in the original lease.

    "Estoppel Certificates are use mainly in commercial transactions. The estoppel clause obligates a tenant to sign a certificate or statement testifying to the existence of certain facts, conditions, and/or obligations associated with the lease agreement. The landlord may need such a certification or statement when he or she is seeking to sell the property, to refinance the existing loan, or to obtain a new loan. For example, a prospective buyer of a shopping center may want a certification from each tenant with regard to their rent payments and the remaining term of their lease. The estoppel clause identifies the tenant's obligation to provide a statement about these pertinent facts".

    An estoppel certificate clause would not be necessary in a SFH transaction as the lease itself contains all pertinent facts that may be required.

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