Get Cosigner Agreement 2020-2025

One of the most common examples of cosigning is a parent signing an apartment lease for their child.

A co-signer agreement is an agreement between two parties such as in a rental lease or financial loan. The co-signer agrees to pay and be held responsible for the liabilities that the debtor or the renter incurs in case they fail to pay on time.

A co-signer addendum is a document that can be added to a standard rental agreement to add the protection of a secondary party that will be responsible for the lease in addition to the tenant that is signing the primary rental agreement. This second party person is known as the co-signer for the lease.

The cosigner is a party with an established financial history who agrees to back up one or more tenants on the lease. They function as a safety net for the landlord. If the other people named in the lease can't make rent or cause damages they can't afford to repair, the cosigner has agreed to pay instead.

A co-signer takes full responsibility for paying back a loan, along with the primary borrower. Often a co-signer will be a family member. The co-signer is obligated to pay any missed payments and even the full amount of the loan if the borrower doesn't pay.

Your Co-Signer Agreement should include information like: who is the landlord; the name(s) of the tenant(s); when the original lease was signed; the rental property's location; the co-signer's name, driver's license and social security number; whether the co-signer will be responsible for any lease extensions or ...

When you cosign a loan, you agree to guarantee someone else's debt. But you don't get any title, ownership, or other rights to the property the loan is paying for. You're there only to repay the debt if the main borrower falls behind on the payments or defaults.

One of the most common examples of cosigning is a parent signing an apartment lease for their child.