Document background
The Guarantor Agreement For Residential Lettings is a critical document in the Indian residential rental market, particularly useful when landlords require additional security beyond the tenant's commitments. This agreement becomes essential in situations where tenants may have limited credit history, are students, or are new to employment. The document, governed by Indian law, establishes legally binding obligations under the Indian Contract Act and Transfer of Property Act, detailing the guarantor's responsibilities, the extent of their liability, and the conditions under which the guarantee can be enforced. It provides landlords with an additional layer of security while offering a structured way for capable third parties to support tenants in securing residential properties. The agreement must comply with state-specific registration requirements and stamp duty regulations to ensure enforceability.
