Return to ezLandlordForms
Enter your search term here...
New support ticket
Check ticket status
Start a new topic
ezLandlord Questions and Answers
Cosigner wants to back out of lease.
started a topic
over 6 years ago
I have a lease signed by the tenant and cosigner. The lease is not effective until July 1. They are not moving in to the property until that date as well. The deposit has not been paid at this time either. The cosigner wants out of the lease now and does not want to be responsible for the tenant should they default. The tenant claims that since the lease has been signed, none of the parties can back out. This tenant must have a cosigner, as their employment and credit history is not all that great. A couple questions: Am I obligated to release the cosigner from the lease since the deposit hasn't been paid and the lease isn't effective till they move in (July 1st)? Can I, if I choose, release the cosigner, and thus void the tenants agreement (being that this situation itself just seems like it won't work out in the long run since the cosigner wants out anyway)?
over 6 years ago
Once the lease is signed, it is legally binding. Once the cosigner sign the lease it is up to the creditor/landlord to allow the cosigner off. They can choose not to renew when the term is up though.
about 6 years ago
I missed this. What did you end up doing?
to post a comment
More topics in
Commercial Rent Increase, CA
How To Monitor Your Credit Report?
How PayStub makes and receives payments?
Lease to someone with a home-based business?
Prespective tenant doesn't pay seurity deposit
Parially built house
prorating from move-in period to the end of month
3 tenant issue
water low pressure and volume
ezLandlord, Inc. 22228 St. Barts Lane Estero, FL 33928
BECOME A MEMBER