Joint And Several Liability
Definition of "Joint and several liability"
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.
Popular Real Estate Terms
Figure or value which is the starting point in computing gain or loss, depreciation, depletion, and amortization. ...
Suppose you wish to sell your property fast and expect a high return on investment. In that case, it would help to reach out to expert local real estate agents who undertake the job of ...
percentage relationship of a specific part of property to the whole property. An example is the square footage of one office to the square footage of all offices in an office building. ...
Expenditures incurred to improve a specific real estate development; however, these improvements are not directly on the property. Example are curbs, driveways, and streets. ...
Point at which a housing development becomes a neighborhood. After an initial housing development is sold and the new owners become established, the neighborhood stage begins. The ...
Government program of providing low interest rate mortgages to low-income qualified buyers. In the tandem program, the Federal National Mortgage Association (FNMA) purchases low interest ...
Six-by-six mile square area of land designated by the intersection of range lines and township lines in the rectangular survey system. ...
A freehold equity in a n estate, restricted to the duration of the life of the grantee or other stipulated individual. ...
I am the person. The person himself/herself. The actual person. ...
Have a question or comment?
We're here to help.