Common use of Joint & Several Liability Clause in Contracts

Joint & Several Liability. 9.1 If your mortgage is in joint names, the obligations of the joint mortgage account holders to us under these terms and conditions and credit agreement, in respect of all operations of the account are joint and several and the act or default of any of them shall be deemed to the act or default of all of them. 9.2 Correspondence and notices in relation to a joint account will be sent by us to the first named person on the account. Such correspondence and notices will be deemed by us to have been received by all parties to the mortgage. 9.3 Home Loan related documents must be signed by all parties