The Lease Guaranty (Mietb眉rgschaft) is commonly used in German property transactions when additional security is required beyond a standard deposit. This document is particularly relevant when tenants cannot provide sufficient security themselves, or in commercial leases where additional protection is desired. The guaranty must comply with German law requirements, including written form requirements under 搂 766 BGB and, where applicable, consumer protection regulations. It typically specifies the maximum liability amount, duration of the guarantee, conditions for enforcement, and the specific obligations being guaranteed. The document is essential for risk management in property leasing and requires careful drafting to ensure enforceability under German law.
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1. Parties: Identification of the guarantor, landlord (beneficiary of the guarantee), and tenant (primary debtor)
2. Background: Details of the underlying lease agreement and the context for the guarantee
3. Definitions: Key terms used in the agreement, including 'Guaranteed Obligations', 'Lease Agreement', and 'Maximum Liability Amount'
4. Guarantee: Core guarantee provision, including scope of guaranteed obligations and nature of guarantee (e.g., direct, unconditional, irrevocable)
5. Extent of Liability: Maximum amount of guarantor's liability and any limitations
6. Duration: Term of the guarantee, including start date and conditions for termination
7. Guarantor's Obligations: Specific obligations and payment terms of the guarantor
8. Enforcement: Conditions and process for enforcing the guarantee
9. Representations and Warranties: Guarantor's confirmations regarding capacity and authority
10. Notices: Process and requirements for formal communications between parties
11. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Consumer Protection Declarations: Required when guarantor is a private individual, including mandatory warnings and acknowledgments
2. Limitation of Defenses: Optional waiver of certain defenses by guarantor, subject to legal restrictions
3. Security Interest: Optional provision for additional security provided by guarantor
4. Assignment and Transfer: Rights to assign or transfer the guarantee, if permitted
5. Multiple Guarantors: Required when there is more than one guarantor, defining joint and several liability
6. Language: Required for bilingual versions, specifying prevailing language
1. Copy of Lease Agreement: Certified copy of the underlying lease agreement
2. Calculation of Maximum Liability: Detailed breakdown of how the maximum guarantee amount is calculated
3. Form of Demand: Template for making a demand under the guarantee
4. Signature Authorization: Evidence of signatory authority (especially for corporate guarantors)
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