Declaración jurada de impedimento hipotecario - Estoppel Affidavit of Mortgagor

• Category: Declaraciones Juradas - Bienes Raíces
• State: Multi-State
• Control #: US-02970BG
• Format: Word

Description

Estoppel is a legal doctrine that prevents a person from adopting a position, action, or attitude, asserting a fact or a right, or prevents one from denying a fact inconsistent with an earlier position if it would result in an injury to someone else. An Estoppel Affidavit of Mortgagor sets out the current status of the mortgage.

Estoppel is a legal principle utilized in contract law to prevent a person from contradicting or denying their previous statements, actions, or behavior if it would be unfair to do so. It operates as a safeguard to ensure honesty, fairness, and the fulfillment of obligations in contractual agreements. When estoppel is invoked, it generally prevents a party from claiming certain rights or taking actions that are inconsistent with their previous assertions or conduct. There are several types of estoppel that can arise in contract law: 1. Promissory Estoppel: This type of estoppel arises when a party makes a clear and definite promise to another, who then relies on that promise to their detriment. If the promising party does not fulfill the promise, estoppel may prevent them from going back on their word. Promissory estoppel is often invoked in situations where there is no formal contract, but one party has made a reliable promise that the other party relies on. 2. Equitable Estoppel: Also known as reliance estoppel, equitable estoppel arises when one party induces another to believe in a certain state of affairs or rely upon their representations, causing the relying on party to change their position or take action to their detriment. If the party who made the inducement then attempts to act contrary to the initial representations, they may bee stopped from doing so. Equitable estoppel is typically invoked to prevent unfairness or an injustice from occurring. 3. Estoppel by Silence: This type of estoppel occurs when a party has a duty to disclose certain information to another party, but fails to do so. If the other party relies on the absence of the information and suffers harm as a result, the party with the duty to disclose May bee stopped from raising the undisclosed information as a defense to a claim or as a basis for asserting rights. 4. Estoppel by Convention: Estoppel by convention arises when both parties to a contract adopt a certain assumption or understanding of the contract's terms, and act accordingly. They are then prevented from asserting a different interpretation or understanding of those terms later on, if it would be unfair to do so. In summary, estoppel is a powerful tool within contract law, used to prevent a person from contradicting their previous statements or actions if it would be unjust or unfair. The types of estoppel, including promissory estoppel, equitable estoppel, estoppel by silence, and estoppel by convention, provide different grounds for invoking this principle to ensure contractual integrity and mitigate any potential unfairness.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.