Posted on: 07th Jun, 2013 12:36 am
I lease to rent a property. My parents are the guarantor to the lease. The lease will end at the mid of next year. In the meanwhile, if I die, will my parents be liable for the payments?
Hi Guest,
As they are the guarantors, there are high chances that they will be liable for the payments.
Thanks,
Jerry
As they are the guarantors, there are high chances that they will be liable for the payments.
Thanks,
Jerry
Hello guest. In most cases, if someone die, the family is responsible to finish paying un-paid bills, especially if they are the guarantors. It really just depends though. The person that leases the place may allow them to break the contract early due to death, but would probably make them pay out for that month. Hope this helped.
Yes, I think your parents are liable to pay the unpaid amount because they are the guarantors. But need to pay the amount earlier if your parents do not wish to pay that amount.
