does a guarantor just sign a guarantors letter of aggrement or do they also need to sign the tenancy aggrement
2007-03-27 03:06:56 · 7 answers · asked by Moonshadow1234 2 in Business & Finance ➔ Renting & Real Estate
A guarantor or if you will a co-signer is held responsible to all liabilities the same as the individual who they are signing on behalf of. It allows the person receiving the guarantee to look to either party for recourse for reasons of a dispute or a violation of the terms of agreement.
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2007-03-27 03:13:05 · answer #1 · answered by newmexicorealestateforms 6 · 2⤊ 0⤋
Just to clarify what the others have said; When you act as a guarantor,you become responsible for defaults,you could lose your own home and everything you have..Think very carefully before signing anything...
2007-03-27 03:25:29 · answer #2 · answered by trish b 7 · 1⤊ 0⤋
A Guarantor is legally in charge for the finished debt in the progression of a default by potential of the 1st named .. on account that this may be a condominium settlement, if truth be told, if she fails to pay the lease, they are able to return when you for it (in concept, for the the remainder of the settlement) .. in prepare, if she's previous due one month they're going to chase her first & supply her some days to pay .. and then pass when you, yet purely for that months lease ... (they're going to chase her returned for next months) because of fact this is a property condominium, I anticipate you will additionally be in charge for her holding the valuables in 'solid concern' .. in spite of if this may be constrained to the quantity of her deposit ... you particularly could discover out you quantity of criminal responsibility - as an occasion, what happens as an occasion if she burns the situation down ?? I recommend you touch them direct to get the 'lacking' tips .. till now signing something
2016-12-19 15:00:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You will have to sign the tenancy agreement, giving details of your name, address, occupation etc. You will be held to that guarantee if the tenants default in any way.
2007-03-27 03:14:24 · answer #4 · answered by Anonymous · 1⤊ 0⤋
It depends on whether the agreement has a guarantor clause.
2007-03-27 03:12:31 · answer #5 · answered by Chrissy 2 · 0⤊ 1⤋
best to keep away...unless it is family
2007-03-27 03:22:48 · answer #6 · answered by Anonymous · 0⤊ 0⤋
No don't do it. Don't be foolish. Just don't do it.
2007-03-27 03:18:05 · answer #7 · answered by #+%? 3 · 0⤊ 1⤋