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Ellen
Ellen, Attorney
Category: Business Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
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We have received an estoppel document from our ...

Customer Question

We have received an estoppel document from our Landlord for the commercial space that we are renting. The estoppel details the amounts in the original lease and the landlord claims he needs this document for his mortgage company to show that he indeed has tenants paying the agreed rent. However, there have been several abatements and forebearances that were negotiated and agreed to in writing because of several months delays with permits for the space that were on behalf of the tenant next door to us requiring electrical and plumbing that was required to go through our space. The concern I have is that the signing of the estoppel may make all the forbearances and abatements null and void. Please advise. Much appreciation of your time and service. Cheers, XXXXX Pres. Eos Inc.
Submitted: 8 years ago.
Category: Business Law
Expert:  Ellen replied 8 years ago.
Would you please tell me what state the space is located in?
Customer: replied 8 years ago.
Virginia
Expert:  Ellen replied 8 years ago.
Hello,

You are correct in your analysis that "the signing of the estoppel may make all the forbearances and abatements null and void" if they are not detailed in the estoppel certificate.

An "estoppel certificate" concerning your lease is your written statement that defines and describes your leasehold interest so that the lender and/or other parties contemplating taking an interest in the property will be informed about the nature and extent of your interest.

Although you are not a party to the transaction between the landlord and the lender, the purpose of an estoppel certificate is to make you aware of the reliance of the lender on it. Accordingly, you would be "estopped" from asserting matters different from those appearing in the certificate as against the lender or its assignees upon completion of the transaction.

A certificate of estoppel can be viewed as a tenant's warranty as to the terms of a lease., It enables the lender to estimate the cost of ousting or keeping a tenant. In the event of litigation you cannot contradict the certificate's contents, having once warranted them as true.

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The information provided is general in nature only and should not be construed as legal advice. By using this forum, you acknowledge that no attorney-client relationship has been created. You should always consult with a lawyer in your state
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Customer: replied 8 years ago.
Thank you very much regarding this information. I am most grateful for your expeditious service.

i will act with even more caution now.

Cheers,

Drew Wenchel
Expert:  Ellen replied 8 years ago.
You are very welcome. Thank you for the bonus and kind words. It is nice to be appreciated!
Customer: replied 8 years ago.
PLEASE REMOVE THIS POSTING WITH THE NAME "DREW WENCHEL" FROM THIS POSTING IMMEDITAELY.

THE NAME "DREW WENCHEL" APPEARING IN ANY SEARCH ENGINE ONLINE IS A VIOLATION WITH THE TERMS OF THE PRIVACY AGRREEMENT AS SPECIFIED ON YOUR WEBSITE.

PLEASE NOTIFY DREW WENCHEL [email protected] when this has been rectified.

THE FOLLOWING IS WHAT APPEARS IN GOOGLE SEARCH ENGINE AND WAS ONLY JUST RECENTLY POSTED IN THE LAST WEEK:

"We have received an estoppel document from our Landlord for ...
- 2:10pm
Drew Wenchel. Customer (name blocked for privacy)."

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