As a result of this, no interest exists which may be passed on after death by will. Likewise, no dower or curtesy can attach. Further, all un-foreclosed liens of one of the joint tenants placed on the land are extinguished. The same result occurs to any easements or leases which were granted by one of the joint tenants without the conveyance by the other joint tenants. Under common law, such a provision as jointure was made prior to marriage and was made in lieu of dower.
Joint ventures arc used in real estate development as a means of raising capital and spreading risk.
For all practical purposes a joint venture is similar to a general partnership. However, once the purpose of the joint venture has been accomplished, the entity ceases to exist. The final legal determination of rights between disputants, such as a mortgagor and a mortgagee, by a court of competent jurisdiction. The party who gains under a judgment. The person burdened by a judgment.