Final answer:
Translocation is the process where DNA sequences from two different chromosomes join, which can result in balanced genetic exchange or potential diseases if regulatory regions are disrupted.
Step-by-step explanation:
The event that refers to DNA sequences joining from two different chromosomes is known as a translocation. A reciprocal translocation specifically, occurs when a segment of one chromosome dissociates and reattaches to another, nonhomologous chromosome. This can result in a balanced exchange of genetic material, where there is no net gain or loss of genetic information. Translocations can have significant effects on gene function, possibly leading to diseases such as cancer or schizophrenia if they disrupt important regulatory sequences or genes.