Lease Agreement Without Guarantor

Otherwise, failure to indicate a strict numerical liability ceiling may justify the possibility for a court to subsequently misinterpret the amount of liability under the guarantee. A personal property guarantee allows a tenant to have a lease guaranteed to someone else, the “co-signer” or “guarantor”, if the tenant does not comply with his conditions. Therefore, if the tenant does not pay rent or breaks the lease for another reason, the person who co-signed, the “guarantor”, must pay all outstanding obligations. A co-signer is as responsible for a rental agreement as the tenant. The surety contract is a legal advantage. It must be read carefully before signing. There is a legal obligation that a warranty agreement be in writing. The agreement defines the legal obligations of the surety . . .