A tenant estoppel certificate is a certification by a tenant to a third party, such as a potential buyer or a lender, of the terms and status of the tenant's lease, states LandlordStation.com. The estoppel certificate is for the benefit of the third party considering a transaction with the property.Continue Reading
A tenant may be asked to sign an estoppel certificate by a landlord who is looking to sell or refinance a property because the buyer or lender needs to know the status of any contracts encumbering the property in question, states LandlordStation.com. The third party is seeking a complete and accurate picture of the property, including all leases or other obligations in place. A third party may also want to know whether the landlord tenant relationships are in good standing or if there are any unresolved issues.
Tenants are generally required to certify that the estoppel certificate contains true statements the third party may rely upon, according to The Law Office of Stuart Heller. This means that stating untrue information could make a tenant legally liable to the third party. Accordingly, tenants should be cautious to only verify information they know to be true, or to clearly state that the information provided is to the best of their knowledge.Learn more about Law
A verbal rental agreement is a lease agreement where the landlord and the tenant verbally agree to lease and rent a house respectively without any written agreement. This could be for a specific period of time such as a month or even a week.Full Answer >
According to Eviction Resources, a Missouri tenant can be given written notice of eviction if he fails to fulfill previously agreed upon terms of a contract and a specified amount of time to correct the aforementioned breach of contract has passed. The most common reasons for eviction are nonpayment of rent, staying longer than the lease is valid and violating terms of the lease.Full Answer >
In Indiana, a landlord must serve a notice to the tenant in regards to unpaid rent or violation of agreement terms, according to Laws.com. The tenant has 10 days to respond. If the matter is not remedied within the allotted timeframe, the landlord can file a complaint with the district court.Full Answer >
The laws governing the process allowing a landlord to terminate a lease vary by state, but in most cases, the landlord has the right to terminate if the tenant violates the terms of the lease or breaks any laws. Most states also require the landlord to provide written notification.Full Answer >