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Category: Law
Satisfied Customers: 9
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I have just become a guarantor for someone in a retail shop

Customer Question

I have just become a guarantor for someone in a retail shop lease for start date august 1st 2013 but have just found out they have lost there driving license so want to pull out I only signed on the 12th of this month is this possible
Submitted: 4 years ago.
Category: Law
Expert:  Max Lowry replied 4 years ago.

Max Lowry :

Hi, welcome to Just Answer. I will help you with your question.

Max Lowry :

Thank you for you question.

Max Lowry :

I'm afraid there is no cooling off or cancellation period from entering into a guarantee. However, it might be possible for the person you've guaranteed to pull out of their agreement but that depends on the terms of their contract/lease with their landlord.

Max Lowry :

It could, however, be possible that the wording of the guarantee might release you if there is another agreement, or a variation of the present agreement, entered into with the landlord and tenant. This could include such things as a rent change, frequency of payment change etc.

Customer: replied 4 years ago.
Relist: Answer quality.
is it correct that if the landlords are willing to relieve you from guarantor of lease the lease then becomes nil and void
Expert:  adamd-mod replied 4 years ago.
Hello there

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