Estoppel certificate
A signed statement from a tenant confirming lease terms, rent, deposit and whether either side is in default. Buyers and lenders require them so a tenant cannot later claim different terms.
Also called: estoppel, tenant estoppel
Related terms
A list of every unit or tenant in a property with rent, lease dates, deposits and other terms. Buyers and lenders use it to verify income and spot lease rollover risk.
Short for subordination, non-disturbance and attornment agreement. The tenant ranks its lease behind the lender's loan, the lender agrees not to end the lease after foreclosure, and the tenant agrees to recognize a new owner.
The buyer's work to check a property before committing, such as inspections, surveys, HOA documents and zoning. In some states, like North Carolina, it is a defined period with a fee paid to the seller.
A contract between a landlord and tenant that sets the rent, term, deposit and rules for using a property.
A deal where a business sells property it uses and then leases it back from the buyer, usually on a long-term net lease. It frees up cash while the business keeps operating in place.