what does this mean?
purchaser has the right to collect estoppel certificates from tenants within the first 60 days of due diligence period
Thank you for your follow-up, Allen.An "estoppel certificate" is a document that is designed to inform a potential buyer of what duties and obligations exist currently between the tenant and the landlord. This document is created when the landlord chooses to put his rental property on sale. This "estoppel certificate" then lets a potential buyer know that if they purchase this rental property, what obligations they may have to the existing tenant on premises, since a purchase of already rented out premises obligates the new owner to continue and provide the same service, and be bound by the same conditions, as the original agreement that was put in place between initial landlord and tenant. Hope that helps..
thanks for your help
Allen,You are most welcome, glad to help. If you found my information to be useful, please do not forget to positively rate my answers so that I can obtain credit for my work. Thank you!
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