The Rental Guarantor Form is a crucial document in German property leasing, required when a landlord seeks additional security for rental payments beyond the tenant's own obligations. This document, governed by the German Civil Code (BGB), establishes a legally binding guarantee where a third party agrees to cover the tenant's rental obligations if they default. The form is commonly used in situations where tenants have limited credit history, are students, or when additional financial security is required by the landlord. It includes detailed information about the guarantee's scope, the maximum liability amount, duration, and the specific circumstances under which the guarantee can be enforced. The document must comply with strict German legal requirements, including written form requirements and consumer protection provisions when the guarantor is acting in a private capacity.
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1. Parties: Identification of all parties: Guarantor, Landlord (beneficiary of guarantee), and Tenant (primary debtor)
2. Background: Brief context of the rental agreement and reason for guarantee
3. Definitions: Key terms used in the document, including 'Guaranteed Obligations', 'Rental Agreement', and 'Guarantee Period'
4. Guarantee Declaration: Formal declaration of guarantee in accordance with BGB § 766, specifying the scope and nature of the guarantee
5. Extent of Liability: Clear specification of the maximum amount guaranteed and which obligations are covered
6. Duration of Guarantee: Term of the guarantee, including start date and conditions for termination
7. Guarantor's Obligations: Detailed description of when and how the guarantor must perform
8. Notices: Requirements for any notifications between parties
9. Applicable Law: Confirmation of German law application and jurisdiction
10. Signatures: Execution block complying with German formal requirements
1. Financial Disclosure: Section for guarantor's financial information, recommended when required by landlord for assessment of guarantor's creditworthiness
2. Release Conditions: Specific conditions under which the guarantor may be released from obligations, useful for fixed-term guarantees
3. Multiple Guarantors: Additional provisions for cases with more than one guarantor, specifying joint and several liability
4. Consumer Protection Notice: Required when the guarantor is acting as a consumer, including mandatory warnings and cooling-off periods
5. Assignment and Transfer: Provisions regarding the transfer of guarantee rights, relevant for properties that may be sold
1. Schedule 1: Rental Agreement Details: Copy or key details of the underlying rental agreement being guaranteed
2. Schedule 2: Guaranteed Amount Calculation: Breakdown of the maximum guaranteed amount, including rent, deposits, and other charges
3. Schedule 3: Guarantor's Financial Statement: Optional schedule containing guarantor's financial information and creditworthiness assessment
4. Appendix A: Identity Documents: Copies of identification documents for all parties as required for verification
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Property
Student Housing
Legal Services
Property Investment
Banking and Financial Services
Relevant Teams
Legal
Real Estate
Property Management
Leasing
Compliance
Risk Management
Contract Administration
Tenant Relations
Housing Administration
Relevant Roles
Property Manager
Real Estate Agent
Leasing Manager
Legal Counsel
Rental Administrator
Housing Officer
Compliance Officer
Contract Manager
Property Administrator
Tenant Relations Manager
Risk Assessment Officer
Real Estate Portfolio Manager
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