Jun 18, 2019
Estoppel Express makes multi-tenant real estate transactions easier
In Osler’s ongoing commitment to deliver more value to its clients through innovation, the firm has launched Canada’s first technology-driven service to streamline the estoppel certificate production process for multi-tenant real estate transactions.
Called Estoppel Express, the service reduces the turnaround time for the entire estoppel process and provides real estate owners and managers more accurate document review, allowing them to complete their multi-tenant transactions more efficiently. Clients can save up to an estimated 40-50% of the cost of estoppel certificate production and mitigate delays to ensure their transactions are completed on time.
“The estoppel certificate process is a laborious and costly standard closing condition in financing or selling multi-tenant properties, and it places a huge administrative and financial toll on our clients,” says Yan Besner, a partner in Osler’s Real Estate Group. “Estoppel Express not only removes that burden, but enables our clients to save time, cut costs and improve document review.”
Using technology to deliver better solutions
Estoppel Express combines Osler’s real estate expertise and the talent of the firm’s Osler Works – Transactional team with the power of technology to streamline the review, preparation, documentation, collection and negotiation of estoppel certificates on behalf of property owners. Maximizing the unique capabilities of Kira, Microsoft, DocuSign and Closing Folders, the service delivers cost and time efficiencies that traditional legal methods struggle to deliver and provides additional legal oversight, at no extra cost.
Delivering more value through innovation
Osler develops new legal products and services through Osler Works, a platform for innovation and leveraging technological disruption, to provide more client value. The platform drives Osler’s firm-wide approach to delivering practical, cost-effective legal services using market-leading technology and Osler’s alternative delivery centre, together with the firm’s leading business and legal expertise.
For more information about Estoppel Express, visit the Estoppel Express page on osler.com or contact Yan Besner.