Estoppel Affadavit

can someone explain an Estoppel Affadavit? <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by homeinvestor on Date 10/18/2003 ]

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  • maverickstar18th October, 2003

    Estoppel means that the seller MUST give the buyer the information on the their tenants rent, deposit, and a copy of the their rental agreement. In this way, the deposit the tenant has paid to seller in the past will come forward, so when that tenant moves out the new owner will have the fund in reserve to pay the tenant. The tenant can give you a story that they paid a larger deposit then they really did and you would have no way of proving or disproving it. It is for your own protection. Also you will know when they are expected a natural rent increase due to length of rental agreement.

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