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Legal Terms - An authorized guarantee agreement (AGA)
An agreement between a landlord and tenant about the transfer of the lease to a third party, known as an assignment.
The tenant ensures that the assignee will fulfill the terms of the lease, as required under the Landlord and Tenant (Covenants) Act 1995. Unless the lease explicitly includes an AGA (Authorised Guarantee Agreement), the renter is not obligated to offer such a guarantee.
An agreement between a landlord and tenant about the transfer of the lease to a third party, known as an assignment.
The tenant ensures that the assignee will fulfill the terms of the lease, as required under the Landlord and Tenant (Covenants) Act 1995. Unless the lease explicitly includes an AGA (Authorised Guarantee Agreement), the renter is not obligated to offer such a guarantee.
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