Term: Personal Guaranty

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A legal commitment made by an individual or entity to accept full responsibility of a loan if the borrower defaults on the loan.  

Articles relating to Personal Guaranty: 

Personal Guaranty
Personal Guaranty

How to Use a Personal Guaranty to Your Advantage

By now, most of our clients obtain personal guaranties on all their loans. However, almost as if it is an afterthought, they don’t know what to do with it when …

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Guaranty Contract
Guaranty Contract

A Personal Guaranty Contract Can Help Lenders Recover Even After Foreclosure

A personal guaranty contract can help lenders recover a debt, even after the property securing the debt has been foreclosed upon. Under the California one-action rule, “[t]here can be but …

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