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TXR 2007 — Residential Lease Guaranty

This two-page form establishes a guaranty arrangement where one or more guarantors personally guarantee the tenant's performance of all obligations under a residential lease. Page 1 contains the guaranty agreement itself, defining the guarantors' obligations, scope, duration, liability, and attorney

Source: TXR
Form Number: 2007
Category: Other
Revised: May 15, 2024

Used For

Residential Sales, RESIDENTIAL_LEASING

Form Outline

The TXR 2007 form is organized into the following sections:

  1. Guaranty of Performance
    Establishes the guaranty relationship by identifying the landlord, tenant, property, and lease terms. The guarantors promise to guarantee the performance of all tenants under the specified lease.
  2. Scope of Guaranty
    Defines the full scope of what the guarantors are guaranteeing. Covers ALL payments (not just rent) and extends to non-payment breaches, requiring guarantors to either cure the breach or compensate the landlord for losses.
  3. Duration and Renewal
    Sets the duration of the guaranty -- it runs from lease commencement through lease end, including extensions and renewals up to a specified cutoff date. After that date, lease renewals do not automatically extend the guaranty. Guarantors waive notice rights except regarding the renewal cutoff.
  4. Joint and Several Liability
    Establishes that if there are multiple guarantors, each one is individually responsible for the full amount of all obligations -- the landlord can pursue any one guarantor for the entire amount owed.
  5. Attorney's Fees
    Provides that the winning party in any lawsuit related to the guaranty can recover their attorney's fees from the losing party.
  6. Credit Verification Authorization
    Provides a checkbox for whether the guarantors will submit the credit application on Page 2. If checked 'will,' the guarantors agree to provide personal information and authorize a credit check.
  7. Special Provisions
    Blank space for any additional terms, conditions, or modifications agreed upon by the parties.
  8. Application for Guarantor of Residential Lease
    Comprehensive credit application collecting personal, employment, and financial information for up to two guarantors. Authorizes the landlord to pull credit reports and verify all information. A non-refundable application fee may be charged.
  9. Signatures
    Signature blocks for up to two guarantors on both the guaranty agreement (Page 1) and the application (Page 2), with dates and printed names.

How RaiderX Agents Use This Form

When you upload a signed TXR 2007 to a deal in RaiderX's Deal Manager, it reads the form's key dates and terms and automatically builds out your deadlines, contingencies, and tasks — so nothing slips through the cracks between contract and closing. Forms with a fill map also support e-signature directly inside RaiderX, so you can send this document for signature without leaving the platform.

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