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Home > Forum > Delhi > Legal > What are legal responsibility of guarantor?

What are legal responsibility of guarantor?

Q: My friend intends to buy flat and he is from my native and out side of Delhi so banker wants guarantee of person known to him. what are legal responsibility of guarantor?

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1
Accountability varies from institution to institution and it is possible for a guarantor to opt out of their role as guarantor. Contact your legal expert to know more about becoming a guarantor or co-borrower. Do not become guarantor, if you cannot afford it.If the other party can´t repay the loan, you have to repay it yourself.
Abhilasha


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