Property Management
A Virginia commercial lease's 'estoppel certificate' is a document where the tenant confirms:
AThey plan to vacate within 30 days
BThe current lease terms, rent amounts, and absence of defaults for the benefit of a prospective purchaser or lender✓ Correct
CTheir financial statements
DThe property condition
Explanation
An estoppel certificate is a tenant's written confirmation of lease terms (commencement date, rent, expiration, options, status of any defaults) used by buyers and lenders to verify lease conditions during due diligence.
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