Guarantors

Par Hélène Baratte le 10/3/2011 | Theme : Regulations

Back to the list

I’ve always said, along with religion and politics, guarantors are one of those difficult subjects to address. As no-one is immune from an everyday accident that could lead to money being taken off their deposit, being a guarantor is not to be taken lightly.
The formalities of the guarantee

Becoming a guarantor is a formal agreement! According to article 2292 of the Civil Code, the guarantor must sign a written deed, whatever the type of tenancy:

 "The guarantee cannot be assumed; it must be expressly stated and cannot be extended beyond the limits within which it is entered into."

Correct legal procedure must be followed when entering into a guarantee. The guarantor must provide greater number of handwritten statements in the case of an open-endedguarantee than for a fixed-term engagement.

The guarantee document can state that the guarantor commits themselves "for the term of the lease, renewed twice for the same term". If this term is set out in the guarantee document, the guarantee is a fixed-term engagement.

The guarantee document can state that the guarantor commits themselves "for the entire term of the initial lease and the term for which it is renewed and/or extended": in this case, because the number of renewals and/or extensions is not specified, the guarantee is open-ended,  

When the guarantee states that a maximum sum is guaranteed, the landlord may not claim a higher amount, even if the rental debt exceeds this sum.

The person acting as guarantor signs a handwritten copy of the following statement, which is otherwise deemed void.

1. the amount of rent, in figures and letters, and the conditions of its revision as stated in the lease. The guarantee must reproduce the revision clause in full as drafted in the tenancy agreement,

2. the statement declaring that the guarantor is aware of the nature and extent of their engagement,

3. acopy of paragraph 2 of article 22-1 of the law of 6 July 1989.

The landlord gives the guarantor a copy of the tenancy agreement.

The guarantee is deemed void if these formalities are not completed.

Publicité
Crédit Immobilier

Avez-vous pensé à votre Crédit ? ImmoStreet.com vous propose de faire une simulation en ligne gratuite.
Faire une simulation ›