Joint And Several Liability


Definition of "Joint and several liability"

Mary Bush
Mary Bush Real Estate One

Two or more people have a legal duty that can be enforced against them by joint action, against all members, and against themselves as individuals. For example, a bank can require repayment from any and all of those who have borrowed to buy real estate property. each borrower is responsible for the entire debt, not only the percentage share.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ