If my business landlord is refinancing his commercial building, is there anything that he should need from me? 10 Answers as of July 27, 2013

He asked me to sign a paper from the bank but I don't want to sign because I don't know what is it about. What can I do?

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Law Office of Mary Louise Boelcke
Law Office of Mary Louise Boelcke | Mary Louise Boelcke
You should get someone to look at the document that he wants you to sign to figure out what it is before you sign. That may involve going to an attorney if you do not have someone to help you decipher the document. Do not sign if you don't know what the document is.
Answer Applies to: New Mexico
Replied: 7/27/2013
The Krone Law Firm, LLC | Norman B. Krone
The Bank may need documents from you which are usual and customary. You should seek legal advice and the review by an attorney that emphasizes commercial real estate in his or her practice.
Answer Applies to: Florida
Replied: 7/27/2013
Vandervoort, Christ & Fisher, P.C. | James E. Reed
It's common for the landlord's lender to require the landlord's tenants to sign a document confirming: 1. The idenity of the tenant. 2. The terms of the tenant's lease (rental rate & lenght of lease term). 3. That the lease is in full force and effect and the tenant does not assert the landlord is in breach of the lease. 4. That the tenant has no defense to an action to enforce the lease. 5. That the new mortgage will be superior to the tenant's rights under the lease.
Answer Applies to: Michigan
Replied: 7/27/2013
Law Offices of George H. Shers | George H. Shers
Tell him you can not sign something you do not understand.
Answer Applies to: California
Replied: 7/27/2013
Dessy & Dessy, a Professional Corporation | Ronald D. Dessy
It is common for the landlord to require the tenants to sign an estoppel certificate when the landlord is refinancing. Depending on the provisions of your lease, it may be a breach of your lease If you refuse complete and sign it. The document appropriate for your landlord to request you to sign is one which has you state whether your lease is in full force and effect, or whether there are any existing disputes between you and the landlord.
Answer Applies to: California
Replied: 7/27/2013
    Ernest DuBose
    Ernest DuBose | Ernest DuBose
    He is probably asking you to sign something from the bank to prove he has a tenant to produce the revenue to support the loan. I would inquire more and get the details before signing.
    Answer Applies to: New York
    Replied: 7/27/2013
    Peters Law, PLLC
    Peters Law, PLLC | Mark T. Peters, Sr.
    Sign. He needs to show the bank that you acknowledge that you are obligated under the lease and that the landlord has done everything he is supposed to do under the lease. If either of those statements are untrue, talk with an attorney.
    Answer Applies to: Idaho
    Replied: 7/27/2013
    Stuart P Gelberg
    Stuart P Gelberg | Stuart P Gelberg
    Usually the bank doing the refi wants a statement from the tenant that the lease is still in effect. Usually not a problem.
    Answer Applies to: New York
    Replied: 7/27/2013
    Harper Law Offices, Inc. P.S.
    Harper Law Offices, Inc. P.S. | Joseph T. G. Harper
    It is possible that there may be an estoppel affidavit or subordination agreement to sign. Something that tells the bank you are an actual tenant and that you have been in good standing, etc. If you are asked to sign something, you have the right to have your own attorney review the document with you. You should contact an attorney right away to make sure that what you are being asked to sign is not contrary to your lease as well, and reviewing both with an attorney would always be advisable.
    Answer Applies to: Washington
    Replied: 7/27/2013
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Read the paper, or ask your attorney to do so for you. It is probably an affirmation that you are a lessee.
    Answer Applies to: Michigan
    Replied: 7/27/2013
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