Net lease glossary
Estoppel Certificate
A signed tenant statement confirming key lease facts, such as rent, term, defaults, and amendments, that buyers and lenders rely on.
An estoppel certificate is a document in which the tenant certifies the current state of the lease: that it is in effect, the rent amount and paid-through date, the expiration and options, whether any amendments exist, and whether the tenant claims any landlord defaults or offsets. Once signed, the tenant is generally prevented, or estopped, from later asserting contrary facts against the buyer or lender. Most purchase contracts and loans require a clean estoppel before closing.