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What is an example of estoppel in real estate?

For example, the tenant may claim promissory estoppel if their landlord promises a lease renewal at the end of the term at the same price but later tries to increase the rent for the renewal period.

What does estoppel request mean?

What is an estoppel certificate? An estoppel certificate establishes the current status of the lease terms for a third party. Generally, the certificate requests that the Tenant verify that the rent is current or whether the Tenant has any potential claims against the Landlord.

What is an hoa estoppel for?

An estoppel letter lets the seller fully disclose any problems or expenses with their property before they sell. The letter also provides the seller with an opportunity to reconcile any outstanding balances with the association.

What is the purpose of an estoppel?

Estoppel is a legal principle that prevents someone from arguing something or asserting a right that contradicts what they previously agreed to or said. Put simply, estoppel prevents one person from contradicting an action or statement from the past.

What does estoppel mean in simple terms?

An estoppel certificate establishes the current status of the lease terms for a third party. Generally, the certificate requests that the Tenant verify that the rent is current or whether the Tenant has any potential claims against the Landlord.