Debt Relief
Joint and Several Guarantor
Guarantor jointly liable with the principal debtor, lacking rights of excussion and demand. Creditor can claim full amount directly. 2020 reform requires notarized consent for business loan guarantors.
Statute Reference
民法454条
Related Terms
Related Articles
Personal Bankruptcy in Japan: Procedure and Consequences
Guide to personal bankruptcy in Japan: procedures, consequences, and what assets you can keep.
Debt Restructuring in Japan: Voluntary vs. Court-Supervised Rehabilitation
Comparison of voluntary debt restructuring and individual rehabilitation in Japan, including mortgage protection provisions.
Free Tools
This article provides general legal information and does not constitute legal advice. For specific legal issues, please consult with a qualified attorney.
Find a lawyer through your local bar association
JFBA Legal Consultation Guide →