Like many terms you encounter in the field of real estate, “joint and several liability” is related to the law. While you may think the term is relatively self-explanatory, its relation to real estate and how it affects you as a home owner is not quite as intuitive.

Law dictionaries describe the term as being an obligation entered into by at least two people, making both liable severally and all liable jointly. What this means is actually quite simple. In plainer language it simply means that a creditor can choose to sue anyone who enters into a contract with one or more other people. The creditor can sue the group as a whole or choose to sue only one member of the contracting group for the entire amount. The contract terms must state this for it to apply.

Joint and several liability is often learned in Tort Law courses by most law students. If you’re a homeowner, you’ll probably understand it better in terms of its relation to your property. You as a homeowner can be held jointly and severally liable sometimes if you invite a guest onto your property they they’re injured and decide to sue. You might also be held jointly and severally liable by a co-homeowner for property damage to a home you both own.

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While joint and several liability may sound as though it’s entirely unrelated to property, liability for a civil wrongdoing is not where this legal concept ends. Those who own property with at least one other person need to take care to ensure that their property is safe for guests and others who might find themselves making use of it. It is also a wise choice to make sure the co-owner is financially stable and responsible to ensure the mortgage will continue to be paid, thus avoiding the pesky little term entirely in the process.

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