“(1) Subject to subsection (3), a guarantee agreement relating to a relevant tenancy ceases to have effect upon the death of a relevant tenant.

(2) Upon the death of a relevant tenant the guarantor in respect of a relevant tenancy shall incur no further liability in relation to matters arising under the tenancy.

(3) Nothing in this section shall affect the liability of a guarantor in relation to matters which arose before the date of the death of the relevant tenant.

(4) In assessing any liability under subsection (3), account shall be taken of any tenancy deposit paid in respect of the tenancy.

(5) Where there is more than one relevant tenant, this section shall apply only upon the death of both or all of the tenants.

(6) In this section—

a ‘guarantor’ is a person who enters into a guarantee agreement in relation to a relevant tenancy;

a ‘guarantee agreement’ is a contractual promise (whether incorporated in or separate from the tenancy agreement) to indemnify or compensate a relevant person in respect of an obligation under the tenancy if the tenant fails to perform or comply with the obligation;

a ‘relevant tenancy’ has the same meaning as in section 36, and ‘relevant tenant’ is to be interpreted accordingly; and

‘tenancy deposit’ has the same meaning as in section 212(8) of the Housing Act 2004.”—