Deed Of Express Release Of Tenant's Guarantor (Optional Substitute Guarantee)
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deed_of_express_release_of_tenant's_guarantor_(optional_substitute_guarantee)_template.docxJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🏘️ Guarantor release deedBusiness activity
Release tenant's guarantorIn the UK, when a tenant enters into a rental agreement, it is common for a guarantor to also sign the agreement, providing a guarantee for the tenant's obligations. The guarantor typically agrees to fulfill the tenant's obligations if the tenant fails to do so, such as paying rent or repairing damages.
This legal template is specifically designed for situations where the tenant's guarantor wishes to be released from their obligations and replaced by another guarantor or no guarantor at all. The deed sets out the procedure and conditions under which this release can be granted, providing a legal framework for all parties involved.
The document may include clauses outlining the valid reasons for the release, the obligations and responsibilities of the substitute guarantor, and the formalities required to complete the release. It may also contain provisions for the tenant's new obligations and responsibilities, such as providing a new security deposit or complying with specific terms set by the landlord.
Overall, this legal template serves as a formal agreement that protects the interests of both the original guarantor and the tenant, ensuring that the release of the guarantor is fair, agreed upon, and legally binding under UK law.
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