When a business leases commercial space, it is common practice for the landlord to request that the company provide a personal guaranty, a protective measure taken to ensure landlords have recourse against a commercial lessee if there is a default under the lease. In this way, landlords mitigate financial losses. A personal guaranty gives the landlord the ability to recover any losses from the personal guarantor if the commercial lessee breaches its lease agreement by failing to pay rent.
Originally published in FALL 2024 USLAW MAGAZINE.
Please see full publication below for more information.
