A guarantor is a third party to a lease, mortgage, or other legal instrument who guarantees performance under the contract. Guarantors play a critical role in helping individuals or businesses secure financing or lease agreements by providing an additional layer of security for the lender or landlord.
In real estate, a lessee is an individual or entity that rents or leases property from a lessor. The lessee is responsible for adhering to the terms of the lease agreement, including payment of rent and maintenance obligations.
