Wht is a co-signer’s liability for a renewal lease that they didn’t sign?
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Wht is a co-signer’s liability for a renewal lease that they didn’t sign?
My roommate and myself signed a 1 year lease. The year lease was up so we signed another year lease. Is the co-signer responsible if we break the new lease. The 2nd lease wasn’t anything but a single piece of paper that we both signed but not the co-signer. Also, it only had options for month-to-month.
Asked on July 2, 2012 under Real Estate Law, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
A cosignor is only liable to the extent he/she assumed or accepted liability. Normally, the cosignor would only be liable for the lease which he/she signed, not extensions or renewals; however, if the original lease stated that the co-signor would be liable for any extensions or renewals and the co-signed signed that lease, he or she would be liable for the renewal.
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