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newwavefinancial
133 Posts |
 Posted - 02/01/2007 : 7:34:10 PM
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Where can I get a copy of an estoppel letter. I am closing a deal in Fl and the HOA is requesting the title company that the seller used to send that and they have not idea.. I am closing tomorrow and I would like any help with this issue so I can close this deal.
Thanks,
New Wave Financial |
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j_d_pennington
1978 Posts |
Posted - 02/01/2007 : 7:38:45 PM
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what does estoppel mean?
sorry for my ignorance. |
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mchew744
339 Posts |
Posted - 02/01/2007 : 7:43:25 PM
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You can find one on Legalforms.com or any other like website.
There is also sample letters available online if you just google it.
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HAWTGUY
4276 Posts |
Posted - 02/02/2007 : 09:01:53 AM
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quote:
Originally posted by j_d_pennington
what does estoppel mean?
sorry for my ignorance.
me too. but we could always google it if we really wanted to know... |
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QUANTAM
332 Posts |
Posted - 02/02/2007 : 09:38:55 AM
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To "estop" means simply to stop, or to prevent. In the case of notes, an estoppel is a signed statement by the payor certifying for the benefit of the note buyer that the payor's statement of facts is correct as of the date of the statement, regarding such things as that a note exists, that there are no defaults and that payments are paid to a certain date. Delivery of the statement by the payor prevents (estops) the payor from later claiming a different statement of facts.
When you buy a seller-financed note, you should get an estoppel letter signed by the payor. The estoppel letter confirms four basic matters: 1) all terms of the note; 2) the current balance owing; 3) that there are no claims, defenses, rights, or offsets against the note; and 4) that you are relying on the payor’s representations.
More...http://www.eskimo.com/~lorelei/estoppel.htm
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