Estoppel Certificates Precluded Tenants from Collecting TIA

October 31, 2017
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Facts: Tenants sued both the former and the current owner of the building in which they leased commercial space for failing to reimburse them for improvements they made to the premises, as required under their leases. The current owner challenged the complaint on the grounds that, as the current owner, it never assumed the obligation to pay tenant improvement costs that were incurred prior to the closing of its purchase of the building.

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