Estoppel certificate

Estoppel certificate,

Definition of Estoppel certificate:

  1. 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?

  1. You should try and have an estoppel certificate if you are doing business with someone that you do not know well.
  2. We got the estoppel certificate and wanted to know what I needed to do next and where I needed to go.
  3. 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