This information is provided for reference only. Real estate laws are different in each state.
If in doubt about any real estate matter seek the advice of an attorney.
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Joint and Several A liability which allows the creditor to sue any one of the debtors or sue all together.
Joint Tenancy A type of ownership in which two ore more people have an undivided interest in a property, with the right of survivorship. Upon the death of one owner, his/her interest passes to the remaining owners and not to the heirs or the devises of the deceased. Also see Tenancy in Common.
Judgement The official and authentic decision of a court of justice concerning the respective rights and claims of the parties to an action or suit. Money judgments, when recorded, become a lien on real property of the defendant.
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