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Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and ...
A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. [ 1 ] Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. In essence, a lease agreement is a contract between two parties ...
Assignment (law) Assignment[a] is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process whereby a person, the assignor, transfers rights or benefits to another, the assignee. [1] An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee.
A proof of funds letter, or POF letter, proves you have the funds to buy a home. You might need one whether you’re getting a mortgage or paying for the property with cash. Many mortgage lenders ...
e. Estoppel is a judicial device in common law legal systems whereby a court may prevent or "estop" a person from making assertions or from going back on their word; the person so prevented is said to be "estopped". [1][2][3] Estoppel may prevent someone from bringing a particular claim. Legal doctrines of estoppel are based in both common law ...
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, [1] joint venture agreements, real ...
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