If modification to a lease is not signed by the guarantor (a third party) is it still binding?

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If modification to a lease is not signed by the guarantor (a third party) is it still binding?

A guarantor was required originally.The original guaranty agreement states that, “Guarantor shall be liable for modifications, amendments, or extensions” and “Releasing or assignment of the lease by resident with or without Guarantor’s approval shall no affect Guarantor’s liability”. However, on the new amendment it requires that all 3 parties agree to the modification. Is the new amendment still binding if their signature is not present?

Asked on June 30, 2012 under Real Estate Law, New Mexico

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

From what you write, under the terms of the original guaranty, the guarantor would still be liable for this modification or amendment, since the plain language of the original guaranty would have him be liable. While the guarantor could be released from his obligation by the other parties, given the clear language of the original guaranty, it would most likely take a more explicit or express release than merely having an amendment with a place for him to sign--rather, there should be a document expressly stating that the guarantor is released from his obligations under the original guarantry, which is signed by the various parties.


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