A signed statement by a party, such as a tenant or mortgagee, verifying for the benefit of another party that a certain statement of facts is correct as of the date of the statement, such as that a lease exists, that there are no defaults and that rent is paid to a certain date. Delivery of the statement by the tenant prevents (estops) the tenant from later claiming a different state of facts.

An instrument which itself prevents individuals from later asserting facts different from those contained in the document. Often required by the buyer of an office building. The tenant and landlord both sign the Estoppel Certificate, confirming the lease and pertinent facts thereto. Thereafter, neither party may make claims to the contrary.

Refer to Status Certificate. irm offer versus conditional offer - A firm offer is an Offer to buy the property, with no conditions attached; once the seller accepts the Offer, you are both legally bound by the Offer (Agreement of Purchase and Sale). A conditional offer is an Offer to buy a property if certain conditions are met within a specified time limit. Refer to Agreement of Purchase and Sale.

Statment of a unit holder's financial and legal status. A "clear" certificate means no arrears.

A statement concerning the status of an agreement, usually a lease, and the performance of obligations under the agreement. A third party such as a lender relies on the statement for such things as making a loan on property.

A written statement setting forth facts about a piece of real estate such as the unpaid principal balance of a mortgage and the interest rate. Its purpose is to stop a future claim that the amount owed is different from the actual unpaid balance, or that the interest rate is other than the contracted rate.... read full article

A legal document provided by condominium corporations that attests to the physical and financial status of the corporation and a particular unit within it. After a tenant gathers and prepares the necessary information into this Estoppel Certificate, they are “stopped” from taking back or retracting the information contained within. As your real estate lawyers, we will request and review and Estoppel Certificate as a condition of purchase of a new condominium.

A signed statement certifying that certain statements of fact are correct as of the date of the statement and can be relied upon by a third party, including a prospective lender or purchaser. In the context of a lease, a statement by a tenant identifying that the lease is in effect and certifying that no rent has been prepaid and that there are no known outstanding defaults by the landlord (except those specified).

A document issued by an interested party setting out certain facts to which the issuer agrees to be bound. May be issued by a Condominium Corporation (setting out the common element fees for a particular unit, the amount in the corporation's reserve account, any special assessments against unit owners, etc.), by a mortgagor or mortgagee (setting out the terms, conditions, interest rate and principal outstanding) or by a tenant in a building to be purchased (setting out amount of rent, the amount of any rental deposit, etc.).

A written statement of a condominium unit's current financial, and legal status. Has been replaced recently by the Condominium Certificate.

Also called a certificate of status, it is a certificate that outlines a condominium corporation’s financial and legal state. Fees may vary and may be capped by law (does not apply in Quebec).

A certificate or letter from the resort that outlines the exact status of the timeshare property. It explains any maintenance fees pending, as well as the rules or restrictions on how the timeshare may be used.

Legal form that states the unpaid balance due on the loan as of a specified date and prevents, or "stops," any purchaser of the loan from claiming that the original borrower owes more than the stated amount.

A statement concerning the status of an agreement and the performance of obligations under the agreement relied upon by a third party, including a prospective lender or purchaser. In the context of a lease, a statement by a tenant identifying that the lease is in effect and certifying that no rent has been prepaid and that there are no known outstanding defaults by the landlord (except those specified).

An instrument executed by the mortgagor setting forth the status of and the balance due on the mortgage as of the date of the execution of the certificate.

A legal instrument executed by the one taking out the mortgage (i.e. mortgagor). The owner of a property may require an individual leasing a property to sign an estoppel certificate, which verifies the major points (e.g. base rent, lease commencement and expiration) of an existing lease between the landlord and tenant.

An instrument executed by a note payor setting forth the status of and the balance due on the promissory note as of the date of the execution of the certificate.

Mortgagor's signed statement that the stated remaining balance of a mortgage is correct and it is a property lien, which later prevents him/her from stating that the facts were misrepresented, therefore making the mortgage invalid.