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estoppel certificate

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Estoppel Clause
A clause in a contract stating that certain facts are true as of the date the contract is signed. For example, the estoppel clause may state the collateral or amount of a loan. It is put in a contract to eliminate any ambiguity.

estoppel certificate

See estoppel.



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In addition to obtaining estoppel certificates from commercial tenants, you should also require an estoppel certificate from any guarantor to a commercial lease.
Supports legislation to provide that the charge by a condominium association or homeowners' association for an estoppel certificate is an obligation of the owner of the unit for whose benefit the estoppel certificate is requested and not the obligation of the closing agent; and to provide for enforcement of any assessment for the charge made for such an estoppel certificate.
The estoppel certificate form has changed effective February 1, 2005 and is mandatory.
 
 
 
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