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.
Most states have laws stating that an estopple letter from the homeowners' association must be put into the escrow documents when a property transfers title. While the law varies by state, the basic concept is the same. The estopple letter is legally binding and inaccuracies can result in civil lawsuits.