Kagaznama

Request to Substitute a Guarantor

At a glance

Price: Free
Stamp duty: No stamp duty — not an instrument under s.2(14), Stamp Act, 1899; plain paper.
Registration: Not registrable (s.17, Registration Act, 1908).
Witnesses: Contractual practice, not the s.59 mortgage rule; follow the lender's own requirement.

Free

Documents are free. Only kits are paid.

Free: up to 5 documents a day.

Guided questions, full draft on screen, download in Word.

See all prices

Also called

replace guarantor request
surety substitution application

When you need it

For replacing one guarantor with another while the loan continues. Needs lender approval of the new guarantor, the new guarantee becoming effective, and an express, clearly-scoped discharge of the old one — a borrower can't unilaterally swap sureties.

The new guarantor needs fresh KYC/credit assessment, since liability is co-extensive with the principal debtor unless limited (s.128). Must avoid a security gap; the old guarantor isn't released merely because an application was accepted.

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

Fill this one in

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

No stamp duty — not an instrument under s.2(14), Stamp Act, 1899; plain paper. A later release or guarantee is separately stamped.

Registration

Not registrable (s.17, Registration Act, 1908). A paper that also charges property is a mortgage, needing registration + 2 witnesses (s.59, TPA 1882).

Notarisation

Not required unless the lender asks.

Witnesses

Contractual practice, not the s.59 mortgage rule; follow the lender's own requirement.

Request Stamp Paper

Sample preview — placeholder answers, not your data

KAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASEDKAGAZNAMA SAMPLE — NOT PURCHASED

REQUEST TO SUBSTITUTE A GUARANTOR

Request date: 1 April 2026

Borrower: Aarav Sharma, Sector 21, Panchkula. Lender: ABC Bank Ltd, Sector 17, Chandigarh. Loan: HL-2026-118; amount ₹90,00,000 (Rupees Ninety Lakh only).

Existing guarantor: Naina Sharma, guarantee Guarantee dated 10 June 2024. Proposed replacement: Rohan Sharma.

REASON

Existing guarantor requests release. Proposed guarantor profile: Salaried applicant with monthly net income 220000 and no existing guarantees..

SEQUENCE

Requested sequence: New guarantee becomes effective before existing guarantee is released. Existing liability treatment: Written complete discharge after replacement conditions are satisfied.

DOCUMENTS

Replacement documents: KYC, salary slips, ITR, bank statements..

Please first approve the replacement, then obtain the new guarantee and issue a written release to the outgoing guarantor in the agreed sequence.

LEGAL BASIS

A guarantor's liability is co-extensive with the borrower's (section 128 of the Indian Contract Act, 1872). A guarantee that covers a series of transactions is a continuing guarantee (section 129), which the guarantor may revoke as to future transactions by notice to the lender (section 130). A variance in the loan terms made without the guarantor's consent, a release of the borrower, extra time given to the borrower, or the loss of the security discharges the guarantor wholly or in part (sections 133, 134, 135, 139 and 141). On a secured home loan, section 13(11) of the SARFAESI Act, 2002 lets the lender proceed against the guarantor without first taking any of the enforcement measures against the property.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

Personal data in this document is collected only to request and administer lender-approved substitution of the identified guarantor, communicate about that purpose, verify expressly supplied lending, identity and property information, and retain an evidentiary transaction record.

The record will be held by Kagaznama and may be shared only with the borrower, co-borrower, guarantor, lender, authorised professional, registering or revenue authority, Central Registry/CERSAI-related service, insurer or other person directly involved in the stated credit or security transaction.

If the transaction is withdrawn, refused or cancelled, personal data will be retained for 90 days and then erased. If the transaction proceeds, the record will be retained for the loan/security term plus 12 months, except where a named statutory or regulatory record-retention period requires longer retention.

A person named here may withdraw consent for future consent-based processing, request correction or erasure when the stated purpose has ended, or raise a grievance by writing to privacy@example.com. The record-holder should acknowledge and respond within 30 days.

Questions about this document

Does the Request to Substitute a Guarantor need stamp paper or stamp duty in Punjab and Chandigarh?

No stamp duty — not an instrument under s.2(14), Stamp Act, 1899; plain paper.

See the full position on stamp duty, registration and witnesses

Does the Request to Substitute a Guarantor need registration in Punjab and Chandigarh?

Not registrable (s.17, Registration Act, 1908).

See the full position on stamp duty, registration and witnesses

What does the Request to Substitute a Guarantor cost on Kagaznama?

Free.

Documents are free. Only kits are paid.

Does the Request to Substitute a Guarantor need witnesses?

Contractual practice, not the s.59 mortgage rule; follow the lender's own requirement.

See the full position on stamp duty, registration and witnesses

Often needed with this document

Back to Home loans, mortgage and money against property