Section 24 Lease Guarantees

• Library: Real Estate Leasing and Landlord-Tenant Actions and Remedies 2011

As discussed in §1.3 above, in many situations it is desirable to have a corporate parent or other person or entity guarantee a tenant’s obligations under a lease. Some leases merely provide for the signature of the guarantor below the signature of the tenant. This is not good practice. See Jamieson-Chippewa Inv. Co. v. McClintock, 996 S.W.2d 84 (Mo. App. E.D. 1999). Lease guarantees are important documents in their own right, and guarantee provisions should be carefully drafted. For example, if the parties desire to waive the right to a jury trial, the lease guarantee should include a provision waiving that right. The jury...