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Am I still liable as guarantor?


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Hi

 

Long story short - I signed guarantor on a 6 month AST for my stepson (bad Idea and I knew it at the time but his mother .......)

After the 6 months was up I telephoned the letting agents and told them that I was not prepared to stay on as guarantor and that if they extended his tenancy then it was without my surety.

now - 2 years on - he has trashed the house and not paid his rent and they are chasing me for money as the guarantor. they are denying the telephone conversation took place (even though I have the name of the person I spoke to)

Can I fight this?

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The guarantee is just an addendum to the contract (I signed guarantor underneath the tenants signature.)

There was a definate termination date to the contract which is one reason I signed. I was not intending to be bound ad-infinitum.

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While tenancy contracts have end dates, the tenancies can continue. Some guarantor statements state that the guarantor is responsible for any continuation of the existing tenancy etc. So the wording of the addendum may be important.

 

There is a view that unless the guarantee is executed as a "deed", rather than as a "contract", it is unenforceable in any case since for a contract to be binding all parties have to receive a benefit ("consideration"). I'm not sure the requirements for setting up a deed. Eg random googlings find:

 

Guarantors in tenancy agreements tips from LettingFocus.com

http://www.letmerlin.co.uk/_forms/1188082678Deed_of_Guarantee-Unlimited.pdf

 

If you think it could cost you money, then get proper advice!

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Yep agreed the guarantee will last as long as the tenant is in occupation, unless agreed otherwise in writing; the legallity of the actual form used, deed or otherwise will have to tested by referring to a solicitor I think.

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