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Leases
California Guaranty Attachment to Lease for Guarantor or Cosigner

Lease With Guarantor

Category:

Landlord Tenant - Guaranty

State:

California

Control #:

CA-841LT

Format:

Instant download

Description

This Guaranty Attachment to Lease for Guarantor or Cosigner is a document in which a third party "co-signs" a lease. This third party agrees to guaranty the payment of rent under the lease and obligates that third party to pay any unpaid rent for tenant.

A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).

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FAQ

The person acting as guarantor needs to: be 18 or older. have known you for at least 2 years. be available and capable of answering questions about you, for example, your name, approximate age, place of birth, physical description and place of residence, if contacted by us.

The Guarantor/Co-Signor should state that they are guaranteeing all of the obligations of the tenant in the attached lease shown as Schedule A. Then just attach the lease to the guarantee and call it Schedule A.

Date ? the date at which the Guarantor contract was signed. Guarantor details ? the name and contact information of the Guarantor. Landlord details ? the name and contact information of the landlord. Tenant details ? the name of the tenant or tenants for whom the guarantor is providing the guarantee.

Lenders have their own rules and guidelines, but usually guarantors will: be over 21 years old. have a good credit history. have a separate bank account to the borrower ? you may be able to guarantee a loan for a spouse or partner, but only if you have separate bank accounts.

A guarantor or co-signer is someone who agrees to pay your rent for you in case you are not able to pay. Usually, only close friends or relatives will agree to act as a guarantor for you.