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socrateaser
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 38129
Experience:  Attorney and Real Estate broker -- Retired (mostly)
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I have lived in my LA Apt. for 32 years and I know the buy

Customer Question

I have lived in my LA Apt. for 32 years and I know the buy out for me to leave is $19,500 because of my age etc this is a rent controlled Apt. The owner has offered me $7,500.00 plus the 3 months of free rent...I just don't trust him and he also wants me to sign a Tenant Estoppel cert. I just want to make sure he does not screw me out of the money. Robert F.
JA: Since estate law varies from place to place, can you tell me what state this is in?
Customer: California Los Angeles
JA: Has any paperwork been filed?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  KJL LAW replied 1 month ago.

Good morning. I will answer your question.

Expert:  KJL LAW replied 1 month ago.

Hello and welcome to Just Answer. No attorney-client relationship or privilege is formed by speaking to an expert on this site, the answers are for general information. By continuing, you confirm that you understand and agree to these terms.

Good morning. The landlord is asking you to sign the certificate because they are looking to sell the apartment. A little background.

An estoppel certificate is used to inform a potential buyer of the property of the rights and privileges of your rent control rights in the apartment. The estoppel certificate requests information about your rent, your lease term, your protected status, oral agreements with the landlord, amendments to written lease agreements, promises made by the landlord, and agreements with respect to the payment of utilities, e.g. water and gas, etc.

The estoppel agreement should completely describe the nature of the relationship between you and the landlord, and the lease terms. It should not have any additional information. A buyout and the terms would be included in a separate agreement between you and the landlord.

There should be no problems with you signing the estoppel certificate as long as it is accurate, and describes your rights that in the lease and any oral agreements you have with the landlord.

So it is ok to sign the estoppel certificate, but make sure that there is nothing in the certificate about the buyout. Any buyout agreement offered to you should be reviewed by an attorney before you sign.

It was a pleasure assisting you today, and I would appreciate if you would rate my service, so I will receive credit and payment for my work. After you rate the question you can ask follow up questions, and you will not be charged any additional money for the follow-up questions.

Customer: replied 1 month ago.
I have already read about the Tenant Estoppel Certificate before I got on this site. It's not your fault that you did not understand what I was looking for but I was asking and needed was a kind of Do list like don't sign agreement until ?, Make sure the money or Certified check is given to you when you sign agreement at that time, make sure that you ..... etc
Customer: replied 1 month ago.
If you were a California Lawyer I'd have you call me for the extra charge but I'm not sure if you know the Calif. law...no disrespect, as you know each state and City may vary. Robert
Expert:  KJL LAW replied 1 month ago.

No I'm not a California lawyer, I can have another, California lawyer pick up the question.

Customer: replied 1 month ago.
Sounds good
Customer: replied 1 month ago.
Hopefully a Los Angeles one
Expert:  socrateaser replied 1 month ago.

Hello,

The previous contributor has exited the conversation.

I am a member of the State Bar of California, the Bar of the U.S. District Court for the Central District of California (San Luis Obispo, Santa Barbara, Ventura, Los Angeles, Orange, San Bernardino, Riverside Counties), and the California and National Associations of Realtors.

How may I assist?

Expert:  socrateaser replied 1 month ago.

It appears that you may have decided to seek elsewhere for your answers. If you need further assistance, please feel free to post a question. If you would prefer to withdraw the question entirely, please let me know and I'll close the question.

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