While paperwork can be laborious, signing an Estoppel certificate is a simple process of fact-checking, inventorying past agreements or changes, and raising concerns about discrepancies. Remember to take into account all the promises made by your landlord, big or small. Some lease agreements require the tenant to complete such a certificate or waive their answers by allowing the lessor to complete the Estoppel certificate in certain circumstances. [Citation required] First Mountain Bank had a 25-year lease. When the leased building was sold, someone signed an Estoppel certificate indicating the end date of the lease. First Mountain Bank had the option to extend the lease, but they had to notify the landlord until a specific date before the lease expired. As a rule, a well-completed Estoppel certificate does not pose any risk to the tenant. First, check the agreements you have made with your landlord. Be sure to take stock of all agreements reached orally, occasionally via email or during a phone call. If any of these agreements are contrary to the provisions of the rental agreement, you must correct or add them. The signing of an Estoppel certificate suspends the terms of the rental agreement.
It is therefore important to check both your lease and the agreements that the document describes. Once you sign it, you can no longer refer to the rental agreement if your current or new landlord violates any part of that agreement.. . . .