Joint Agency
The appointment of two estate agents to act jointly in the sale of a property. Normally the commission is shared between both agents irrespective of who introduced the buyer, although generally a slightly higher percentage is awarded to the introducing agent. In a multiple agency, where several agents are involved, the commission is payable solely to the agent who introduces the buyer.
Joint income
The total gross income of the two borrowers in a joint mortgage.
Joint tenants
A form of ownership for two parties whereby if one of them dies, their share of the property will automatically transfer to the remaining party, giving them full ownership (regardless of the terms of the deceased owner's will).