Saint Paul Minnesota Guarantor Waiver Which Avoids Release of Guarantor by Reason of the Tenant Discharge Release or Bankruptcy

• Category: Landlord Tenant - Commercial Leases
• State: Multi-State
• City: Saint Paul
• Control #: US-OL4A024BB
• Format: Word; PDF

Description

This office lease guaranty states that the guarantor's obligations under this guaranty shall be unaffected by any discharge or release of the tenant, its successors or assigns, or any of their debts, in connection with any bankruptcy, reorganization, or other insolvency proceeding or assignment for the benefit of creditors.

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Interesting Questions

Can a landlord refuse a guarantor waiver?

Yes, they can. Landlords have their own rules and may choose not to accept a guarantor waiver if they feel it puts them at risk.

Is a guarantor waiver legally binding?

Absolutely! Once signed, it becomes a legal document. This means it can hold up in court if there's any disagreement down the road.

Can a guarantor waiver be void if the tenant is kicked out?

Not with a proper guarantor waiver in place. It’s designed to keep the guarantor safe, even if the tenant is evicted or released from their agreement.

What is a guarantor waiver in Saint Paul, Minnesota?

A guarantor waiver is an agreement that can protect a guarantor from being held responsible for a tenant's unpaid rent if the tenant is released from their lease due to discharge or bankruptcy.

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