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leanne-jones, Barrister
Category: Property Law
Satisfied Customers: 183
Experience:  Barrister
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I have been asked to act as a guarantor for my daughter for

Customer Question

I have been asked to act as a guarantor for my daughter for a joint and several tenancy. I am happy to do this but the form requires me to agree to guarantee the full rental (four people) amount and an unlimited liability for any other financial loss incurred during this tenancy by al the tenants. I have asked for the form to be amended to guarantee only the total of any debt incurred by my daughter and they have refused. Please advise where I stand on this - they have issued this document the day before she is due to move in.
Submitted: 4 years ago.
Category: Property Law
Expert:  leanne-jones replied 4 years ago.
Hello - my name is Leanne and it will be my pleasure to assist you today.

If there are 4 tenants then your daughter is joint and severally liable. This means that each person is liable for the total liability. In reality she can not be responsible for 25% of the debt. If there is a default the Landlord would be entitled to pursue her (and the others) for the full outstanding and not just her share.

This means that is guarantor you are technically liable for 100% and you could not limit your liability, just as your daughter can not.

Therefore while morally you and your daughter should be responsible for 25% but in law she and you would be responsible for 100%.

That is not to say the Landlord could get 100% from you, another 100% from another tenant/guarantor etc. The Landlord may decide to chase for 25% only, but in reality he will go after the person who has the money.

I hope this answers your question and if I can be of any further assistance, please do not hesitate to contact me.
Expert:  leanne-jones replied 4 years ago.
I'm just following up with you to see how everything is going. Did my answer help?