What is 'Relative Value' Relative value is a method of determining an asset's value that takes into account the value of similar assets. This is in contrast with absolute value, which looks only at an asset's intrinsic value and does not compare it to other assets.
What is a Tenant Estoppel? What exactly is a tenant estoppel? By definition, an estoppel certificate is a âsigned statement by a party certifying for anotherâs benefit that certain facts are correct, as that a lease exists, that there are no defaults, and that rent is paid to a certain date.
The bill will prohibit the association from asking that the estoppel fee be paid in advance as a condition of delivering the estoppel certificate. Rather, the bill will require that the estoppel fee be paid to the association from the proceeds at closing. This could be a significant burden to associations, especially in those cases where sales fall through and the association has to produce a number of different estoppel certificates for the same unit.