Estoppel letters benefit purchasers of real property. True or False

Expert Solution

Answer: TRUE

An Estoppel Certificate(or Estoppel letter) is a document often used indue diligence in realestate and mortgage activities.Which is a document often completed,but at least sighned, by a tenant used in his or her's proposed transactions with third party( Tenants Estoppel Certificate). A mortgage lender intending to collataralise a tenant occupied property or a purchasing intend to purchase such a property will often want to verify certain represetations made by land loards. An estoppel certifcates provide information regarding the property price, area,amount of advance paymentand details of final settlement etc. inthe case of tenant estoppel which is contains the details regarding the rent amount ,security deposit ,tenure period of agreement ,etc. if analys these two estoppel letter is an agreement among parties that provide the legal security to bothe side of the party.However incase of buying a property while the estoppel aggreement is more benefit for purchasers of real property. that why the answer comes True.

Rahul Sunny answered 2 years ago

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