Conditional guaranty.

This conditional guaranty is undertaken on [Date], by _________ of _________, city of _________, county of _________, state of _________, herein referred to as obligee. In consideration of $_____, the receipt of which is acknowledged, and other valuable consideration and only upon the occurrence of the express condition precedent set forth below, guarantor by this means conditionally guarantees the collection of a sum not to exceed $_____ now owing or hereafter to be incurred by _________ of _________, city of _________, county of _________, state of _________, referred to here as principal obligor.

(a). This undertaking is expressly conditioned upon, and shall be of no force and effect until entrance of final judgment in a court of competent jurisdiction that a transfer of property by principal obligor was a conveyance in fraud of creditors.

(b). This guaranty is expressly conditioned upon, and shall be of no force or effect unless and until a fraudulent conveyance of assets by principal obligor has occurred.

For purposes of this undertaking, any of the following events will constitute a fraudulent conveyance by principal obligor:

(a) Any conveyance, for consideration or otherwise, of legal or equitable interest in real property by principal debtor without written permission of guarantor; or

(b) Any conveyance by principal debtor which is subject to the provisions of _________(state statutory enactment of UCC §_________; or

(c) Any conveyance of more than _________ percent for consideration or otherwise, of legal or equitable interest in the following described personal property of principal debtor without written approval of guarantor. [Description of property].

In witness, guarantor has executed this guaranty on the day and year first above written in _________.

 

______________________________________________________________________________________

 

More Real Estate Forms

 

Browse Real Estate Forms & Mortgage Forms Alphabetically

 

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 



Home Courses Real Estate Forms Income Properties For Sale Forums Real Estate Articles   

Copyright © 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.