Cosigner
/ˈkoʊˌsaɪnər/
Definitions
- (n.) A party who signs a loan or credit agreement alongside the primary borrower, agreeing to assume responsibility if the borrower defaults.
The bank required a cosigner to approve the loan application.
Forms
- cosigners
Related terms
See also
Commentary
Cosigners are typically liable only upon default by the primary borrower, distinguishing them from guarantors in some jurisdictions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.