Glossary Of Terms
Joint Ownership / (share To Buy)
Multiple individuals can jointly own a property. If the joint ownership of the property involves a mortgage, then the mortgage will be on the basis of 'joint and several liability'. That is, all parties to the mortgage are jointly and severally liable for repaying the entire mortgage. 'Share to buy' is a type of joint ownership where a structured legal agreement sets out the framework in which the property will be owned.