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.
A homeowners' association issues an estopple letter into escrow declaring the seller's outstanding obligations when a property is sold. Youâre buying a property governed by a homeownerâs association and are aware that dues are paid monthly. During escrow, an estopple letter from the HOA is requested by the seller. This legal document outlines information regarding the current ownerâs financial standing in regards to the HOA, what is due and what has not been paid. It also indicates any assessments that are in progress or projected.