Joint And Several Liability


Definition of "Joint and several liability"

Philip Farmer real estate agent
Philip Farmer, Real Estate Agent Keller Williams Realty

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.

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