Cosigned: meaning, definitions and examples
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cosigned
[ ˌkoʊˈsaɪnd ]
legal agreement
To cosign means to sign a document in agreement with another party, typically to guarantee repayment of a loan or obligation. This often involves taking on shared responsibility for the debt or obligation with the primary signer. Cosigning can help someone who may not qualify for credit on their own to obtain loans or leases. It is important for cosigners to understand that they are legally liable for the obligation if the primary borrower defaults.
Synonyms
countersign, endorse, guarantee, sign.
Examples of usage
- I cosigned the lease for my friend's apartment.
- She decided to cosign the loan to help her son buy a car.
- Many parents cosign student loans for their children.
- The bank required a cosigner due to his low credit score.
Translations
Translations of the word "cosigned" in other languages:
🇵🇹 coassinado
🇮🇳 सह-हस्ताक्षरित
🇩🇪 mitschriftlich
🇮🇩 ditandatangani bersama
🇺🇦 спільно підписаний
🇵🇱 wspólnie podpisany
🇯🇵 共同署名された
🇫🇷 co-signé
🇪🇸 co-firmado
🇹🇷 ortak imzalı
🇰🇷 공동 서명된
🇸🇦 موقع عليه من قبل عدة أطراف
🇨🇿 spolu podepsaný
🇸🇰 spoločne podpísaný
🇨🇳 共同签署
🇸🇮 so-podpisan
🇮🇸 samtínt
🇰🇿 ортақ қол қойылған
🇬🇪 თანამშრომლობით ხელმოწერილი
🇦🇿 birgə imzalanmış
🇲🇽 co-firmado
Etymology
The term 'cosign' originated in the mid-20th century, deriving from the prefix 'co-' meaning 'together' or 'jointly,' and 'sign,' which comes from the Latin 'signare,' meaning 'to mark' or 'to sign.' The concept emerged from the need for additional assurance in financial transactions, where one party may need the backing of another to secure loans or leases. The practice of cosigning has become common in many cultures as a way to aid those without sufficient credit history or income to qualify for financing independently. Over time, it has evolved to cover a range of agreements, beyond just loans, reflecting the trust and responsibility shared between cosigners in binding contracts.