Property Management
In Ohio, a commercial lease 'estoppel certificate' is used to:
ATerminate a commercial lease early
BConfirm lease terms to a prospective lender or buyer of the property✓ Correct
CAllow the tenant to assign the lease
DSet the base year for expense escalations
Explanation
An estoppel certificate is a document signed by the tenant confirming the current lease terms, rental amounts, and that there are no defaults or claims against the landlord. It is used when a property is sold or refinanced.
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