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North Carolina Estoppel Affidavit

North Carolina Estoppel Affidavit

Name: North Carolina Estoppel Affidavit
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.87 (239 reviews)

Category:

North Carolina Real Estate - Affidavits

State:

North Carolina

Control #:

NC-LR145T

Format:

Instant download

Description

This affidavit is made for the protection and benefit of the grantee in said deed, his successors and assigns, and all other parties hereafter dealing with or who may acquire an interest in the property herein described. A North Carolina Estoppel Affidavit is a legal document used to provide proof of a certain fact or set of facts related to a real estate transaction or dispute. It is a sworn statement, signed by a party to a transaction or dispute, that outlines the parties’ rights and obligations under the transaction or dispute. The affidavit is used to bind the parties to their rights and obligations, and to prevent them from later denying any facts stated in the affidavit. There are two types of North Carolina Estoppel Affidavits: Short Form and Long Form. The Short Form is used for transactions involving only one party, while the Long Form is used for transactions involving multiple parties. Both forms require the signature of the party or parties making the statement, and a notary public.

A North Carolina Estoppel Affidavit is a legal document used to provide proof of a certain fact or set of facts related to a real estate transaction or dispute. It is a sworn statement, signed by a party to a transaction or dispute, that outlines the parties’ rights and obligations under the transaction or dispute. The affidavit is used to bind the parties to their rights and obligations, and to prevent them from later denying any facts stated in the affidavit. There are two types of North Carolina Estoppel Affidavits: Short Form and Long Form. The Short Form is used for transactions involving only one party, while the Long Form is used for transactions involving multiple parties. Both forms require the signature of the party or parties making the statement, and a notary public.

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FAQ

For instance, if a landlord agrees not to terminate a tenant's lease as long as the tenant spends money on improving the property, an estoppel certificate could prevent the landlord from going back on their word and terminating the lease, even when the promise may not have been written into a contract.

Estoppel is an equitable doctrine, a bar that prevents one from asserting a claim or right that contradicts what one has said or done before, or what has been legally established as true. Estoppel may be used as a bar to the re-litigation of issues or as an affirmative defense.

An estoppel certificate establishes the current status of the lease terms for a third party. Generally, the certificate requests that the Tenant verify that the rent is current or whether the Tenant has any potential claims against the Landlord.

Types of estoppel include collateral estoppel, equitable estoppel, and promissory estoppel. Estoppel certificates are commonly used in real estate and must be signed by tenants when the landlord is trying to conduct a transaction with the property.

Understanding Promissory Estoppel The doctrine prevents the promisor or enterprise from going back on their word or promise. For example, a vendor makes an oral promise to the customer to replace the goods if they do not fit the customer size requirements. The customer purchases the clothes and takes them home.

What is an estoppel certificate? An estoppel certificate establishes the current status of the lease terms for a third party. Generally, the certificate requests that the Tenant verify that the rent is current or whether the Tenant has any potential claims against the Landlord.

More info

An estoppel certificate establishes the current status of the lease terms for a third party. An estoppel certificate confirms the terms of a lease between a commercial landlord and tenant.Estoppel Certificates and No Default Affidavits. Is a Tenant Obligated to Complete an Estoppel Certificate? This agency may not collect this information, and you are not required to complete this form unless it displays a currently valid OMB control number. Because an estoppel certificate is legally binding for both you and your landlord, great care must be taken when completing and returning one. An estoppel certificate gives a third party information about the relationship between a landlord and a tenant. Here is a breakdown of what an estoppel certificate (or estoppel letter) is. Fill out the form to access a sample of Practical Guidance. Fill out the form to access a sample of Practical Guidance.

North Carolina Estoppel Affidavit

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