Property Management
Tenant estoppel certificates are typically required in commercial transactions to:
AForce tenants to prepay the last month's rent
BConfirm the terms of the lease and that there are no undisclosed claims against the landlord✓ Correct
CTransfer lease obligations to the new owner
DTerminate existing leases upon sale of the property
Explanation
An estoppel certificate is a document signed by tenants confirming the lease terms, rent amount, lease start and end dates, and whether the landlord is in default. Buyers and lenders rely on these to verify the income stream before closing.
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