Posted by Bill H on April 13, 2005 at 19:04:24:
Not an attorney and by no means giving legal advice but as I understand it, Reciprocity Laws mean that state “A” and state"B" have laws that say the same or very similar and would prevail in certain situations.
Therefore I would conclude that the out of state guarantor could not be held responsible and the real estate company could not go after him if certain things happened and so would not accept him.
In common sense language…guarantor guarantees a loan under state "A’ law and state “B” has nothing under which to pursue him if he defaults…hence no reciprocity…or commonality.
Good Luck,
Bill H