When are estoppel letters requested?

Estoppel letters are typically requested during real estate transactions, such as when a property is being sold or refinanced. They provide confirmation of the terms and conditions of existing leases, including rent amounts and lease expiration dates, ensuring that the buyer or lender understands the current obligations and rights associated with the property. These letters are also commonly requested in situations where a landlord or tenant seeks to clarify their legal standing before making decisions that could affect their lease agreements.