Step 1: Understand the requirement.
Lines parallel to the coordinate axes are of the form
\[
x = a \quad \text{and} \quad y = b
\]
Their joint equation is
\[
(x-a)(y-b)=0 \Rightarrow xy - bx - ay + ab = 0
\]
Step 2: Find the point of intersection of the given lines.
The given second-degree equation represents a pair of straight lines intersecting at a point \( (a,b) \).
By comparing with the standard form and evaluating the intersection point, we obtain
\[
(a,b) = (2,1)
\]
Step 3: Form the joint equation.
\[
(x-2)(y-1)=0
\]
\[
xy - x - 2y + 2 = 0
\]
Step 4: Conclusion.
Hence, the required joint equation is
\[
\boxed{xy - x - 2y + 2 = 0}
\]