California Attorney and Real Estate Broker Chris Adishian answers the question, “Should I require copies of leases or tenant estoppel certificates when buying a commercial building?” at the South Bay Association of Realtors’ event, “Commercial Attorney Panel-Hot Legal Issues for Commercial Real Estate” on March 5, 2014.
Question: Should I require copies of leases or tenant estoppel certificates when buying a commercial building?
Answer: “On the buy side, if you know that you’re buying in a rent control area, this is a good time to use the transaction stage or transaction leverage to put
the burden on the seller to deliver you a clean building that’s, you know, all leases should be delivered prior to escrow, or it’s contingency of escrow, or tenant estoppel certificates should be delivered. And those should all be conditions to close and those should be representations of the Landlord that you can sue him on, frankly, if he breaches.”
Adishian Law Group is a California law firm with a statewide practice in the areas of Corporate law, Employment law, Real Estate law and Mediation Services. Adishianlaw.com is one of the oldest continually operating law firm websites on the Internet. The firm serves its clientele via three offices located in the major business hubs of El Segundo, Palo Alto and San Francisco. As of March 2013, Adishian Law Group, P.C. has represented individual and corporate clients located across 20 California counties, 4 States outside of California and 9 foreign countries — in over 340 legal matters.
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