Legal Topics

Amending a Lease? Don't Forget the Guarantor!

When a lease is modified without the guarantor's approval, they are typically released from their obligation.

Exceptions

Time Extensions: If an amendment merely extends the deadline for payments, guarantor consent is not required.

Beneficial Changes: Amendments that solely reduce the tenant's obligations don't require guarantor consent.

Recommendation

Always obtain guarantor consent before modifying underlying agreements.

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