More details to this question:
Is it possible to due a contract to avoid loan co-signment responsibility? In other words make the other party responsible and not the co-signor
1 ANSWER
It is possible legally, but practically why would the lender agree to have one party liable to pay it back, when it already has two parties available to pay it back? The two co-signers can reach such an agreement amongst themselves, but that would not be binding on the lender in any way. In other words, John can co-sign Jane's car loan and the two of them can agree that Jane will be the responsible for paying it, not John. But if Jane defaults, that agreement is not binding on the lender, who will sue both of them. If John is forced to pay, he can sue Jane for it, but if Jane doesn't have the money to pay him back, he will be stuck.
Answered on Jul 24th, 2015 at 9:25 AM