Document background
The Lease Personal Guarantee Form is a crucial document in Philippine property transactions, designed to provide additional security for lessors when entering into lease agreements. This document becomes particularly important in commercial and high-value residential leases where the lessor requires extra assurance beyond the primary tenant's commitments. The form is structured in accordance with Philippine civil law requirements, specifically Republic Act No. 386 (Civil Code of the Philippines) and related property legislation. It typically includes detailed provisions about the guarantor's obligations, the extent of liability, enforcement mechanisms, and the relationship between all parties involved. The document is commonly used when leasing to new businesses, companies with limited operating history, or in situations where the lessee's financial standing alone may not meet the lessor's requirements.
