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What is an Estoppel Certificate? An estoppel certificate is a signed statement by one party that certifies the statements of another party are valid. They are commonly used in the due diligence process to fact-check the seller's information when buying real estate.
When you purchase a resale condominium, it is extremely important to request the estoppel certificate. It is a signed statement from the condominium corporation and is conclusive proof of matters certified in it.
Nov 19, 2023 · What Is An Estoppel Certificate for a Condo? An estoppel certificate, not to be confused with the broader legal principle of “estoppel,” is a document that provides a snapshot of a condo unit’s financial and legal status at a specific point in time and is part of the due diligence process.
Jul 30, 2024 · In the context of real estate, an estoppel certificate, also called an estoppel letter, typically provides details about financial obligations, legal standings, and other critical information regarding a property.
Jan 28, 2024 · Estoppel in real estate is a principle that plays a pivotal role in ensuring fairness and consistency in property transactions. This concept prevents individuals from reneging on previous statements or actions if it would harm the other party who has relied on those statements.
Nov 29, 2023 · Estoppel is a crucial legal safeguard in commercial and residential property transactions in real estate. Let's take a closer look at the impact of estoppel in real estate. Below you'll find 15 examples. Tenant estoppel certificates are a common feature in commercial real estate transactions.
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What is An estoppel Certificate? An Estoppel certificate is a document that is signed by a condominium board or condominium management company. It certifies the accuracy of specific information as it relates to the condominium corporation, the condo common property and the specific individual unit.