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Real Estate Definition - estoppel

estoppel - a legal doctrine based on fairness which holds that a person should not be able to disavow his or her own acts or admissions to the detriment of another person who has relied on the acts or admissions. For example, Abel tells Baker that his apartment building generates $100,000/year in income. Baker buys the building based on the representation but later learns that the income is only $50,000/year. In a lawsuit against Abel by Baker, Abel would be estopped from claiming that Baker should not have relied on the representation of the higher income level.



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