The Personal Guaranty: know what you are signing before anyone signs.
A commercial lease guaranty creates real personal liability. This checklist from Tyree Law LLC covers both sides of the table: what a tenant or guarantor should check before signing, and what a landlord should confirm before accepting one.
- Ten questions for tenants and guarantors, from scope and dollar caps to burn-off dates and release on exit
- Twelve points for landlords, so the guaranty is enforceable and the guarantor is collectible
- The terms worth asking for, including a cap, a burn-off and a limited surrender ("good-guy") guaranty
- Fits on one page, so you can print it and keep it with the lease
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One document, two agendas
Whichever chair you sit in, know what the guaranty says before anyone signs. The checklist walks through each side.
Tenant or guarantor
Before you sign one. What am I guaranteeing? What is my maximum exposure? When am I released?
- Scope: rent only, or every obligation under the lease
- Dollar cap and end date, or a burn-off after on-time payments
- Renewals, amendments, notice and cure, co-guarantors
- Release on an approved assignment, sale or surrender
Landlord
Before you hand one over. Does it cover a real default? Is it enforceable directly? Is the guarantor collectible?
- Identifies the lease, every amendment and a separate signed commitment
- Payment, not collection: enforceable without chasing the tenant first
- Clear trigger, stated waivers, recoverable damages and attorney fees under Nebraska law
- Successors, co-guarantors and current credit support
No surprises. Flat fees. Plain answers.
Tyree Law LLC is the no-surprises law firm for founders. Plain-language advice on business formation, contracts, leases, real estate and compliance, with pricing you can trust.
General education, not legal advice. Every lease and guaranty is different, and reading this checklist does not create an attorney-client relationship with Tyree Law LLC. Have the documents reviewed or drafted for your transaction before signing.
Tyree Law LLC · (402) 235-6232 · admin@tyreelawllc.com · tyreelawllc.com