Jargon Buster

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Term Definition
Joint Agency
This is when you have instructed more than one estate agent to market your property. This can sometimes mean that you are paying higher commission fees because they are not your sole agent.
Joint Tenancy
A form of co-ownership that gives each tenant equal interest and equal rights in the property, including the right of survivorship.

This means that if one owner dies the other automatically becomes the sole owner, irrespective of whether a will had been made which included the property.
Joint Tenants
The tenants involved in a Joint Tenancy or Tenancy in Common.
Joint Venture
Where two or more parties decide to join for a particular activity.

This can be to share resources, assets or capital although is also widely used where parties bring different things to the venture. For example a Joint Venture maybe started where one party has the capital but no time and the other time and no capital.