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.Know More
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 lease proposal letter needs to include a heading that provides the landlord and property information; a body that includes the terms of the intended lease, such as the proposed lease dates and duration, rents and financial details; and an outline of the tenant and landlord responsibilities regarding insurance, repairs or other extenuating costs with the proposal's conclusion providing deadlines for acceptance or negotiations of the terms by all agreeable parties. A lease proposal is a guideline that is written as an initial contract but it is not a binding contract until the terms are established and agreed upon in a signed lease agreement, notes an example of an agreement on the Commercial Real Estate Institute (CREI) website. Many lease proposal templates are available online.Full Answer >
A residential lease agreement is a legally binding contract between a landlord and tenant that details the terms for renting an apartment or a house as a dwelling place. Also known as a landlord-tenant lease or an apartment rental agreement, this contract is usually signed at the beginning of a rental term and stays in effect until an end date specified in the agreement.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 >
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 >