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A co-signer is responsible for all provisions of the loan agreement. "Co" means equal. You and the primary borrower are equally responsible for the contract. Find out more at www.dealertricks.com

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โˆ™ 2004-04-21 05:31:01
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Q: What are all the responsibilities of a co-signer?
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Related questions

What are the legal responsibilities of a cosigner on a lease agreement?

The legal responsibilities of a cosigner on a lease agreement are the same as the tenant without the benefit of tenancy.


What is required of a cosigner of a loan?

Almost anyone can be a loan cosigner, however they must be creditworthy, accept and intimately understand the responsibilities which accompany the role, and meet any of the lender specific requirements.


What are the requirements of an auto cosigner in Indiana?

An auto cosigner, in the state of Indiana, has to meet all of the requirements of the contract. In most cases the cosigner has the same obligations as the primary signer.


Can you replace a cosigner for an apartment with another cosigner?

Yes, you can replace a cosigner for an apartment with another cosigner. However, you need to get the consent of the landlord.


What are the benefits of a cosigner?

A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.


Does the buyer of a car have to have a job if they have a cosighner and for how long?

if you have a good cosigner then all that matters is their credit and work history... if you renage on the deal they go after the cosigner


If the cosigner for a car loan lives in a different state but cannot travel can the dealer travel to them to get the cosigner forms completed?

U.S.Mail or Fax and a Notary Public is all you need.


Does a cosigner have to have a job?

No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.


Can you be sued in case of an accident as cosigner?

No. The only obligation the cosigner has is to the lender.


What are the legal rights of a cosigner on a mortgage?

legal rights of cosigner on mortgage


What makes a legal cosigner?

Capacity and intent of the cosigner to be bound is required.


If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?

Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.

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