Selling or buying a property!

What is a Guarantee?

With Trove Easton of Easton Lawyers, Maleny

In commercial or personal matters, if the lender thinks a borrower might not be able to repay a loan, they may ask the lender to provide a guarantee to increase the likelihood of the loan being repaid.

There are two types of guarantees

✦ a first-party guarantee where the loan is guaranteed by security in the form of an asset; or

✦ a third-party guarantee where someone else guarantees the loan. You should always obtain legal advice before entering into a guarantee as lender, borrower, or guarantor.

For the guarantor it is essential to understand, that should the borrower fail to repay the loan for any reason, it is the guarantor that must repay the loan in full. So guarantors should give the same care and consideration, as if taking out a loan personally.

How can Easton Lawyers help?

Easton Lawyers has been providing individuals and businesses with tailored local legal solutions for 16 years

If you need legal advice as a buyer or seller of a business or if you would just like to have a us look over the terms and conditions of your document, contact Easton Lawyers at 07 5494 3511 or by email: reception@eastonlawyers.com.au or eastonlawyers.com.au and arrange a time to discuss your needs us.

We do not charge for an initial consultation. If you are not sure that we can assist you, please come and talk to us. If it is something that is outside our area of expertise, we will refer you to another firm that we are satisfied will provide you with service and assistance to our standard.

Lawyers remains an integral part of a wonderful, diverse community, providing good old fashioned service, with a strong focus on supporting and sponsoring community events.

Web Address: http://eastonlawyers.com.au/

Its on again- Community Grants 2023

Applica8ons are now open for grants up to $2000 from the Rotary Club of Maleny Applica8on forms can be obtained from the Secretary, Rotary Club of Maleny via secretary.maleny@rotary9620.org or phone 0419 942 561 or 0408 663 842