1031.Exchange INTELLIGENCE NETWORK
License territory Acquire
PROPERTY & LEASING

Estoppel certificate

Also called: tenant estoppel · lease estoppel

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PLAIN-ENGLISH DEFINITION

A tenant statement confirming specified lease facts such as rent, term, defaults, amendments and deposits.

What it means in practice.

Estoppels help a buyer and lender verify that material lease information matches the seller’s records.

Why it matters.

For net-lease and multi-tenant acquisitions, estoppels can be central to income and legal diligence.

Additional notes.

Estoppels help a buyer and lender verify that material lease information matches the seller’s records.

CONNECTED LANGUAGE

Related definitions.

Property & LeasingNNN leaseA lease structure in which the tenant typically bears specified property expenses such as taxes, insurance and maintenance, subject to the actual lease language.Real Estate UnderwritingRent rollA property schedule listing tenants, units, rents, lease dates and related occupancy information.Transaction & ClosingDue diligenceThe investigation of a property, transaction and counterparties before closing.
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