Definition of "Surety"

Kimberly  Chadwick
Kimberly Chadwick Keller Williams Realty Group

One who agrees to pay the debts of another in the event that the debtor does not pay. The creditor can demand payment from the surety as soon as the debt becomes due. Although a surety agreement does not have to be in writing to be enforceable, most of them are.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ