Property Management
An estoppel certificate in a Rhode Island commercial real estate transaction is used to:
ATerminate a commercial lease early
BHave a tenant confirm the current terms and status of their lease for a potential buyer or lender✓ Correct
CExtend the term of a commercial lease automatically
DConvert a gross lease to a net lease
Explanation
An estoppel certificate is a document signed by a tenant confirming the current lease terms, rent, any defaults, and other relevant lease facts. Buyers and lenders rely on them to verify lease status during due diligence.
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