Contract Glossary
Cosigner
Definition
A cosigner is a person who signs a contract alongside the primary party, agreeing to be equally responsible for fulfilling the obligations — most commonly debt repayment. If the primary borrower or tenant fails to pay, the cosigner becomes legally obligated to cover the full amount. Cosigning is common in loans, leases, and credit applications when the primary applicant doesn't meet the lender's or landlord's requirements on their own. The cosigner's credit history and income strengthen the application, but they take on significant financial risk with none of the benefits of ownership or tenancy.
In Practice
A recent college graduate wants to rent an apartment but has limited credit history. The landlord requires a cosigner. The graduate's parent cosigns the lease, agreeing to be equally liable for the $1,500 monthly rent and any damages. When the graduate loses their job and misses three months of rent, the landlord pursues the parent for the $4,500 owed. The parent is legally obligated to pay, and the missed rent can also impact the parent's credit score.
Example Clause
Cosigner hereby unconditionally guarantees the full and timely performance of all obligations of Tenant under this Lease, including but not limited to payment of rent, damages, and any other amounts due. Cosigner's liability shall be joint and several with Tenant and shall not be affected by any modification of this Lease, any forbearance by Landlord, or Tenant's bankruptcy or incapacity.
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Frequently asked questions about cosigner
A cosigner is equally liable from day one — the lender or landlord can pursue the cosigner immediately if a payment is missed, without first attempting to collect from the primary party. A guarantor typically has secondary liability — the creditor must first exhaust remedies against the primary party before turning to the guarantor. In practice, many contracts blur this distinction, so read the specific terms carefully.
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Create your contractThis content is for informational purposes only and does not constitute legal advice. For contracts with significant financial or legal implications, review by a qualified attorney is recommended.