Guarantor form

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    Guarantor form

    Hi all

    I am planning on letting my property to a couple and their son will be the Guarantor. I am just wondering, do I need a witness for the Guarantor form, if I witness him sign it?

    Is a witness required for the Guarantee to be valid / enforceable?

    #2
    Rather more than that.
    It needs to be drawn and witnessed as a deed. Which requires specific wording on the document.
    The guarantor needs to have had the opportunity to see the tenancy agreement + taken advice before signing.

    Comment


      #3
      Yes if it is a deed, no if it is not. A deed is recommended.

      For more information see the sticky about guarantees: http://www.landlordzone.co.uk/forums...ncy-Guarantees

      Comment


        #4
        Lawcruncher,

        Thanks for that.

        Can this line

        2.2 “the Tenancy Agreement” means an agreement dated the same day as this deed and completed immediately before it made between the Landlord (1) and the Tenant (2) relating to [insert address of property]

        Be changed as the tenancy agreement will be signed a couple of days after the Deed is signed?

        Comment


          #5
          No.

          The form of the guarantee is such that it guarantees an existing tenancy. There is a bit of a technical problem in guaranteeing something which does not exist. With a deed there is a distinction between when it is executed and when it takes effect. The law allows deeds to be executed "early". This is done all the time - for example if you buy a house with a mortgage you will execute the mortgage before you own the house. It is perfectly in order for the guarantee to be executed by the guarantor and left undated until the tenancy agreement has been completed. For more detail see the comments in my posts. Just ask if anything is not clear.

          Comment


            #6
            Thank you.

            Just so that I am clear. I send the guarantor the Deed and a draft of the agreement and ask guarantor to sign the Deed in presence of a witness, but not to date it until date the tenancy starts?
            Would it matter if the guarantor dates the Deed on the day it was signed and the tenancy agreement is signed and dated two days later?

            Comment


              #7
              Ask the guarantor to return the deed signed and witnessed but not dated.
              Make sure they understand that the witness shouldn't be a connected party (like the tenant, or their spouse).

              They should be given some time to make sure they have the opportunity to take legal advice, so it's best to do it as far in advance as you can.
              When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
              Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

              Comment


                #8
                Originally posted by SALL View Post
                Would it matter if the guarantor dates the Deed on the day it was signed and the tenancy agreement is signed and dated two days later?
                You must tell the guarantor not to date the deed. In the space where the date is to be completed write in in pencil in capitals "DO NO DATE" and also mention it in the accompanying letter.

                Comment

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