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My office landlord ask me to sign an Estoppel certificate. Estoppel states that i have paid all annual rent & other charges up to date. I am a few months behind on rent. Should i sign this Estoppel Cert. Appreciate all advice. Thanks?
Wiki User
∙ 14y ago
The landlord is trying to get a loan against the property. In order to do this, he must prove that the leases/rents are up-to-date and that the property is being managed well to assured it as a source of payment for the new loan. The Estoppel Certificate proves that rent is coming in on time on the property. In your case, this is not true, but it doesn't do the landlord any good to say that you are behind on the rent and that he has allowed this to happen. On the other hand, he's asking you to do him a favor to support him in getting this loan. Given that you are behind, he could easily start eviction proceedings. But to sign the certificate is an effort to defraud. Make a plan to get caught up on the rent, even if it is a little bit extra each month and sign a private agreement with the landlord about that. If the arrangements are made between the two of you to clear up the arrears, perhaps that could be considered a "current" arrangement and you could sign the Estoppel in good faith.
Wiki User
∙ 14y ago
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Who signs estoppel certificate?
The estoppel certificate is typically signed by the party who is providing the certificate. For example, if a tenant is providing the estoppel certificate to a landlord, the tenant would sign the certificate.
What is a landlord Estoppel Certificate?
It can mean where an estoppel certificate is required of a landlord (they can are also sometimes required of the tenant), where the landlord is required to make certain representations regarding the state of the lease (neither tenant nor landlord are in default), the state of the underlying property (e.g. no encumbrances, or no default on mortgage, or no condemnation proceedings) or other representations at the request of a lender (to the landlord or the tenant) or a buyer of the property.
What is a tenant estoppel agreement?
A tenant estoppel agreement is between the seller of the property and purchaser, which may have specific terms, such as the terms of the lease for that tenant - for example, the condition of purchasing the property is that the new landlord will honor the terms of the lease originally written by the old landlord - a list of tenants in each unit of the property, and how much rent each tenant is paying.
If you live in a house and it is sold does the old landlord have to give you back your security deposit?
No. In the estoppel that your old landlord signs to the new landlord the security deposit is turned over to the new landlord, who keeps the deposit where it is now, or tells you where your deposit will be located.
Can a tenant refuse to sign an estoppel certificate?
You're essentially declining a lease agreement, so yes. But you're telling the landlord, that you are moving by doing so.
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A new landlord has to have received the security deposit from the old landlord during the process of the closure of the sale of the property. The new landlord is responsible for that security deposit.
