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New York Real Estate Law ReporterFeaturesLandlord Tenant LawLitigationLJN Newsletters

Expanding the Scope of Good Guy Guarantees

By Stewart E. Sterk
March 01, 2017

Good Guy Guarantees are designed to ensure that defaulting commercial tenants leave the premises promptly, avoiding loss of rental income to landlords. The guarantee provides an incentive for the guarantor (usually one of the tenant's principals) to make sure the tenant leaves promptly, because the guarantor remains on the hook for rent until the tenant vacates the premises. However, in Bri Jen Realty Corp. v. Altman, NYLJ 1/13/17, p. 26., col. 2, the Second Department construed a Good Guy Guarantee to hold a guarantor liable for rent for 11 months after tenant surrendered the premises. Bri Jen counsels caution in drafting future “Good Guy” Guarantees.

The Bri Jen Case

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