What type of document do I need to guarantee rent payments to a co-signer?
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What type of document do I need to guarantee rent payments to a co-signer?
I am trying to get an apartment for me and my family and I. However due to bad credit a co-signer is needed. My stepfather agreed to co-sign but wants a legal document about me directly depositing to his account to confirm rent would be paid.
Asked on May 3, 2011 under Bankruptcy Law, Connecticut
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am confused. Your step father is agreeing to co-sign the lease but he wants you to sign a separate document with him agreeing to use direct deposit of the funds in to his account so that he can insure that the rent is paid? And he will pay it on time and without fail? And if he does not do you have any recourse against him? He wants you to enter in to a separate contract (a lease is a contract remember) guaranteeing his guarantee. You can have any attorney draw up the agreement so long as it does not violate any law in your state. Do NOT do this alone. Good lcuk.
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