Property Management
What is 'tenant estoppel certificate' and when is it used in Illinois commercial real estate?
AA form tenants sign to prevent landlords from raising rent
BA document signed by a tenant confirming key lease terms, the absence of defaults, and the status of the tenancy, typically requested by a buyer or lender✓ Correct
CA certificate of occupancy issued to new commercial tenants
DA tenant's waiver of the right to dispute rent increases
Explanation
A tenant estoppel certificate is a document in which a tenant confirms the key facts about their lease (lease dates, rent amount, security deposit, no landlord defaults). Buyers and lenders use estoppel certificates to verify lease terms before purchasing or financing a property.
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