Real Estate Glossary

What is Joint Liability?

The responsibility of two or more parties for the repayment of a debt. In the context of real estate, joint liability can refer to a situation where two or more people are on the loan or mortgage for a property and are both responsible for repaying the debt. This can be useful for those who are not able to qualify for a loan on their own, but it can also come with risks, as if one person defaults, the other person is still liable for the full debt.

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Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
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