An estoppel certificate is a legal document where the borrower acknowledges the amount of debt secured by a mortgage. It also can be a lease clause where a tenant confirms the lease's enforceability, absence of landlord default, and current rent status.
A free and clear title, also known as a clear title, refers to a property that is free of any encumbrances, such as mortgage debt or liens, that could affect the ownership rights of the buyer.
A master mortgage loan refers to the collective mortgage debt secured on a building used for cooperative housing. Each co-op tenant-shareholder's obligation is separate from any individual loans used to purchase the respective co-op shares.
