The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Legal Docs for College Roomates||Date: 3/30/2012 8:18 PM|
|Author: nagdabbit||Number: 115756 of 119697|
Sorry if this isn't the board...just don't see a lawyers board...
College students moving off campus to an apartment
Three's Company situation, with of course, co-signer parents. While parents have credit reports and dollars on the line, students of course do not.
By co-signing, each parent/student is responsible for the entire rent and any damages. Not to mention the utilities etc...
We feel the college students should sign an agreement as to what they are responsible for.
Is a 'home made' written agreement legal, ie. 'real', should a situation of non-payment/late fees be involved?
Does it have to be formal?
If so, is there a website or program to draft up an agreement - without going to a lawyer?
Or does this whole co-signer thing neget the whole thing?
Does the fact that 3 parents co-signed mean that you cannot recoup or attempt to recoup anything should a student/parent not pay?
Please direct me to another board if this isn't something you can help with-
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|