Your Good Guy Guaranty Ends When the Keys Go Back
New York's highest court held that a good guy guaranty ends when the tenant does what the guaranty says: notice, vacate, hand over the keys. A landlord who refuses to sign an acceptance of surrender does not keep the guarantor on the hook, unless the guaranty made acceptance a condition. Manhattan office demand is the strongest it has been since 2002, which makes this the moment landlords are re-papering their forms.