Attachment Lease

Michigan Guaranty Attachment to Lease for Guarantor or Cosigner
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State:
Michigan
Control #:
MI-841LT
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Available formats: Word | Rich Text

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

Is a lease guarantor the same as a cosigner?

What is a cosigner addendum?

Are you liable as a cosigner or guarantor?

Does a guarantor have to sign the tenancy agreement?

Does a guarantor sign the lease?

Is a guarantor the same as a cosigner?

Does a cosigner guarantee an apartment?

What is the difference between co applicant and guarantor?

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