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Does a guarantor have to sign a lease for his responsibility as the guarantor?
Wiki User
∙ 11y ago
Yes
Wiki User
∙ 11y ago
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What is a guarantor?
A guarantor is someone who agrees to sign an agreement (most typically a rental agreement) and basically guarantees that if for some reason the tenant cannot pay, the guarantor will make the payments. This most commnoly happens in a college evironment when a student needs to have a parent sign onto the lease as a guarantor so the Landlord feels comfortable that if the student cannot make the payments, the parents will.
Can apartment complex hold me liable as a guarantor when I was unaware of terms and did NOT sign contract or lease and did not provide consent for your signature?
They could go after you, but that would mean proving to a judge that you actually did sign the lease as a guarantor. It would come down to who the judge believed, and probably a comparison of signatures by the judge. Anything could happen, but the burden of proof would be on the landlord, and it would be tough.
What is the responsibility of a guarantor?
A guarantor is a person that guarantees to take responsibility to pay the debt of someone else. Guarantor acts as a signer of sorts wherein they make a pledge on their own services if the original debtor cannot continue their obligations.
What are the responsibilities of the guarantor on an apartment lease?
A guarantor is someone who has agreed to be legally bound to pay certain debts of another person if that other person does not, for any reason, pay his or her own debts. A guarantor of an apartment lease will be liable for the rent not paid by the tenant, as well as for any damage done and repairs not made by the tenant. Being a guarantor involves much more than simply being a reference for another person. Being a guarantor could end up costing someone thousands of dollars.
Can a minor sign a loan?
No. A minor cannot sign a binding contract.No. A minor cannot sign a binding contract.No. A minor cannot sign a binding contract.No. A minor cannot sign a binding contract.
What is the difference in a cosigner and a guarantor?
A cosigner signs the debt agreement and the lender can demand payment from both the debtor and the cosigner. A guarantor does not sign and the lender needs to go through the debtor before demanding payment from a guarantor.
What is grantor?
what is the responsibility of a grantor, putting up security example car if the person that has taken out the loan has not paid the loan off in full what is the responsibility of a guarantor
Is it required by law in Tennessee if a person that signs an apartment lease as a Guarantor is married that both the Guarantor and spouse must sign and execute this Guaranty Agreement?
No. Nothing under the law requires that any Guarantor exist for any contract in Tennessee. However, if a Guarantor is sought, that is an issue of contract which will generally be enforced by the Courts. If the Guarantor is married and the spouse signs the guarantee, then the spouse becomes individually liable for the guarantee to the full extent as the original Guarantor. Individuals should enter into guarantees very very carefully with the assistance of a lawyer or what appears to be a limited guarantee could actually be open ended. The totality of all the documents must be read together to obtain the meaning of the individual parts of the total agreement being guaranteed.
What legal responsibility does a guarantor have?
A guarantor is someone who pledges that a loan or other type of debt will be paid. Usually, a guarantor agrees to pay or perform another person's debt or duty should that person fail to do so. The term is most commonly used in reference to financial assistance. However, it is important to note that accountability varies from institution to institution. Often it is possible for a guarantor to opt out of their role as guarantor.
Do we both need a guarantor?
You need to discuss that issue with the lender who can review your situation and explain your options. One co-signer may sign as guarantor for a married couple.
Can i cancel a lease if never even signed a contract or moved in?
A lease IS a contract. If you did not sign it, you do not have a lease.
How do you lease a home to buy?
you put up a sign that says "for lease"
