If my daughter lives in one state and I live in another, what is my risk if I co-sign a lease for an apartment that she wants to rent?

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If my daughter lives in one state and I live in another, what is my risk if I co-sign a lease for an apartment that she wants to rent?

I believe there could be considerable risk of default on my daughter’s part to paying the rent. What is my risk being from a different state? Would the co-sign be legally binding since I’m an out of state resident?

Asked on June 8, 2012 under Real Estate Law, Wisconsin

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Yes, it would be legally binding and if she breaches the agreement they can obtain a judgement and go after you even out of state.  I would think twice here if you think that she will not honor the lease.  It will have an affect on your credit as well as hers.  Good luck.


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