Definition of Estoppel certificate:
Signed document establishing certain facts which the signing party may not later contradict, dispute, or recant. In case of a mortgage, for example, estoppel certificate is issued by the mortgagee to the mortgagor stating the unpaid principal balance of a mortgage, its interest rate, and any other related information. It is used to preclude the possibility of a claim that the actual unpaid balance or applicable interest rate is different.
How to use Estoppel certificate in a sentence?
- You should try and have an estoppel certificate if you are doing business with someone that you do not know well.
- We got the estoppel certificate and wanted to know what I needed to do next and where I needed to go.
- If you are doing a deal with someone for the first time you may want to get a signed estoppel certificate so that nothing can be changed.
Meaning of Estoppel certificate & Estoppel certificate Definition