Am I or my guarantor still responsible or held accountable for a balance dating back 4-5 years?
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Am I or my guarantor still responsible or held accountable for a balance dating back 4-5 years?
I got a guarantor to sign for my 1-year lease 7 years ago in a shared apartment. Still in the same apartment, I’ve had to sign a new lease each year but I’ve only turned in 1 guarantor form (for the first year I moved in). About 3 years ago the rental company stated that there was a balance due but couldn’t figure out at what point the balance arose (they think it goes back 4-5 years) or who owed it. Because other roommates have moved out and I’m the only one left, the company wants to get me or my guarantor to pay. Are either of us liable even though I can prove I made all my payments?
Asked on October 21, 2011 under Real Estate Law, Massachusetts
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you had a person sign a personal guarantee with respect to your lease which was on a one (1) year basis and there is a claim that you owe money under the time period that this personal guarantee by the third person who signed the document, potentially he or she may be responsible for any amount owed under this time period that you ultimately would be responsible for and that you do not pay.
However, there are time periods for one to bring a lawsuit called statute of limitations for money claimed due. If there has been no lawsuit filed against you or the third party guarantor for a balance dating back more than four (4) or five (5) years, then there is a good chance that the money claimed owed may be time barred under the statute of limitations of your state for the claim.
Good luck.
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