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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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FAO Alex W. Dear Alex Further to my recent question concerning

Customer Question

FAO Alex W.

Dear Alex

Further to my recent question concerning on going liability of a guarantor on assignment. I wondered if the other option may be to agree to an underlease that way the present tenant and guarantor will remain liable for the remainder of the term.
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

The difficulty is that the agreement must allow such an action. In any event a guarantor can only be liable for what was reasonably contemplated at the time of signature and contract

Alex Watts :

The guarantor would argue that he did not intend to be bound for other tenants, only this tenant.

Alex Watts :

That is where I think you would have difficulty.

Alex Watts :

Can I clarify anything for you about this today please?

JACUSTOMER-nd8d7flc- :

It has now been possible to secure the present guarantor to guarantee the outgoing tenants obligations under an AGA he 0pbligft

JACUSTOMER-nd8d7flc- :

It has now been possible to persuade the guarantor to guarantee the outgoing tenants obligations. To guarantee the Assigees obligations (new Tenant) presumably this cannot be done under an AGA but a separate guarantee taken out between the Landlord and separate Assignee Guarantor to guarantee the Assignees obligations

Alex Watts :

That is correct.

Alex Watts :

Can I clarify anything else?

Alex Watts :

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