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Joint borrowing is the process of taking out a loan or other type of financing with another person, often called a co-borrower. Although joint borrowing offers advantages, like potentially ...
A co-borrower, also referred to as a co-applicant or co-requestor, is an additional person on a mortgage. In a co-borrowing situation, both borrowers complete an application, and the mortgage ...
A co-applicant is an additional person involved in the application of a loan besides the original applicant. They are equally considered alongside the applicant throughout the whole application ...
If the joint account is a survivorship account, the ownership of the account goes to the surviving joint account holder. Joint survivorship accounts are often created in order to avoid probate. If two individuals open a joint account and one of them dies, the other person is entitled to the remaining balance and liable for the debt of that account.
Therefore, it is important to write down during the filing of the very first application for each claim, who conceived it. "Joint inventors", or "co-inventors", exist when a patentable invention is the result of inventive work of more than one inventor. Joint inventors may exist even where one inventor contributed a majority of the work.
The position in relation to a mortgage is more doubtful (see below). For example, if one of three joint co-owners conveys his or her share in the property to a third party, the third party owns a 1/3 share on a tenancy in common basis, while the other two original joint co-owners continue to hold the remaining 2/3s on a joint tenancy basis.
The option to add a cosigner or co-applicant isn’t as common for personal loans as it is for other products, such as private student loans. So make sure to check the lender’s policy online or ...
Joint employment is the sharing of control and supervision of an employee's activity among two or more business entities. At present, no single definition of joint employment exists. Instead, various employment laws define situations in which joint employment may occur with respect to that law.