When it comes to the sale or financing of real property, tenant estoppel certificates are not just formalities—they are crucial documents that confirm the status of existing leases. Tenant estoppel certificates offer prospective buyers and lenders necessary assurance regarding the property's financials and any potential risks.

A tenant’s delivery of an estoppel certificate estops (i.e. prevents) the tenant from later claiming a different state of facts regarding the lease. For example, a landlord might defend against a tenant claim of default under the lease by furnishing a tenant estoppel certificate stating no lease defaults existed as of the date of the estoppel certificate. Similarly, a purchaser may object to the enforcement of a side letter or other ancillary agreement that was not

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