WHAT DOES JOINTLY AND AND SEVERALLY MEAN? DEFINE "JOINTLY".
Jointly means that all of the Attorneys must work together and sign all documents together.
Jointly and Severally means that any one of the Attorneys can sign a document or dispose of an asset without the signature of the other(s) or alternatively every Attorney can sign. It becomes their choice and makes signing very convenient.
If you choose Jointly then all must sign and that could be difficult logistically if one of the Attorneys resides far away.
Whenever you have more than one primary Attorney or Substitute (Alternate means same thing) Attorney you need to specify whether they must act Jointly or may act Jointly and Severally.
Call a Lawyer Now to Book an Appointment 905-273-3322
Jointly and Severally means that any one of the Attorneys can sign a document or dispose of an asset without the signature of the other(s) or alternatively every Attorney can sign. It becomes their choice and makes signing very convenient.
If you choose Jointly then all must sign and that could be difficult logistically if one of the Attorneys resides far away.
Whenever you have more than one primary Attorney or Substitute (Alternate means same thing) Attorney you need to specify whether they must act Jointly or may act Jointly and Severally.
Call a Lawyer Now to Book an Appointment 905-273-3322
