Deed of release and substitution of tenant’s guarantor
Deed of release and substitution of tenant’s guarantor

The following Property guidance note provides comprehensive and up to date legal information covering:

  • Deed of release and substitution of tenant’s guarantor
  • Parties
  • Schedule 1 [Replacement Guarantee [new lease]
  • Schedule 2 [Replacement Guarantee [old lease]

This Deed is made on [insert date]

Parties

  1. 1

    [insert landlord's name] [of [insert address] OR incorporated in England and Wales with company registration number [insert company number] whose registered office is at [insert address]] (Landlord);

  1. 2

    [insert guarantor's name] [of [insert address] OR incorporated in England and Wales with company registration number [insert company number] whose registered office is at [insert address]] (Outgoing Guarantor);

  1. 3

    [insert tenant's name] [of [insert address] OR incorporated in England and Wales with company registration number [insert company number] whose registered office is at [insert address]] (Tenant);

  1. 4

    [[insert remaining guarantor’s name] [of [insert address] OR incorporated in England and Wales with company registration number [insert company number] whose registered office is at [insert address]] (Remaining Guarantor);]

  1. 5

    [insert replacement guarantor’s name] [of [insert address] OR incorporated in England and Wales with company registration number [insert company number] whose registered office is at [insert address]] (Replacement Guarantor).

  1. 1

    Background

    1. (A)

      The immediate reversion to the Lease is vested in the Landlord and the unexpired residue of the [term created by the Lease OR Term] is vested in the Tenant.

    2. (B)

      In the [Guarantee OR Lease],