estoppel certificate

estoppel certificate
USA
tenant estoppel certificate, Also known as an estoppel certificate.
In a real estate context, a tenant certifies on certain material terms of its lease as of a particular date. Typically an estoppel certificate is delivered by a tenant to a landlord who is either financing or selling the building where the tenant is located.
Once the tenant certifies to certain matters in the estoppel certificate, the tenant cannot make a claim contrary to the matters certified to in the estoppel certificate.
An estoppel certificate includes a certification of material lease matters, such as the:
• Current rent (and no prepayment of rent).
• Security deposit.
• Lease term.
• Options available to tenant.
• Current defaults by landlord or tenant, if any.
• Confirmation that tenant is the current occupant of the leased premises.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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