What is an estoppel certificate?

An estoppel certificate is a legal document used in real estate law in Washington. It is used when a person is trying to transfer ownership of their property, or when a bank is trying to collect payment from a borrower. The certificate is used to ensure that all parties involved have agreed to a certain transaction and that no one will be responsible for any discrepancies. An estoppel certificate is a statement from a borrower or tenant that states that all information related to a transaction is accurate and that all of their obligations have been met. It also states that there are no outstanding debts or unpaid fees associated with the property. By signing an estoppel certificate, all parties involved agree that they will not make any claims or provide any information that may contradict the certificate. In Washington, an estoppel certificate is typically requested by a lender when they are lending money to a borrower. It is also used when the ownership of a property is being transferred from one party to another. The certifying party must provide a written statement that all financial obligations pertaining to the property have been met and that no taxes or fees are outstanding. An estoppel certificate is an important document that ensures all parties involved in real estate transactions in Washington are in agreement and no one will be held responsible for any discrepancies. It is used to ensure the accuracy of all information related to the transaction and that all responsibilities have been met by both the borrower and the lender.

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What is an estoppel certificate?

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