Estoppel Certificate

Definition:  A legal instrument implemented by a mortgagor detailing the exact unpaid balance of a mortgage, the current rate of interest and the date to which interest has been paid.  It bars the signer from making a claim inconsistent with the instrument.

Pronunciation:  \e-ˈstä-pəl\ \(ˌ)sər-ˈti-fi-kət\

Used in a Sentence:    When the bank sold off the mortgage, the purchaser was issued an estoppel certificate outlining the exact terms of the loan.

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