The condition in which responsibility rests with two or more people for fulfilling the terms of a home loan or other financial debt.
Related information about joint liability:
- Joint and several liability - Wikipedia, the free encyclopedia
If parties have joint liability, then they are each liable up to the full amount of the relevant obligation. So if a married couple takes a loan from a bank, the loan ...
- Joint Liability - Legal Dictionary - The Free Dictionary
joint liability n. when two or more persons are both responsible for a debt, claim or judgment. It can be important to the person making the claim, as well as to a ...
- The Difference Between Jointly Liable & Joint & Several Liability ...
Several liability is the opposite of joint liability. When two or more partners obtain a loan for which they are severally liable, each partner is only liable for their ...
- Joint Liability Definition | Investopedia
A joint liability allows parties to share the risks associated with taking on additional debt, and to protect themselves in the event of legal litigation and lawsuits.
- What is joint liability? definition and meaning
Definition of joint liability: In a partnership, all partners (owners) have joint liability . Any action pertaining to the partnership is taken jointly against all partners, ...
- Torts Capsule Summary - Chapter 13
In the absence of a reform statute, this comparative allocation does not necessarily alter joint liability. Each tortfeasor may still be responsible for insuring the ...
- joint liability | LII / Legal Information Institute
When two or more persons are both responsible for a debt, claim, or judgment. It can be important to the person making the claim, as well as to a person who is ...
- Urban Dictionary: Several Joint Liability
5 days ago ... When a party is liable for all of the damage incurred by a third party after becoming excessively high on marijuana.