Real Estate Glossary
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Choose the first letter of a word to find the page where a term is located. If the term you are looking for is not listed, please email your request to us and we will research your question and find a definition for you.
JOINT APPRAISAL - An appraisal by more than one appraiser, but one which states common conclusions of all.
JOINT TENANCY - A way for two or more people to share ownership of real estate or other property. When two or more people own property as joint tenants and one owner dies, the other owners automatically own the deceased owner's share. For example, if a parent and child own a house as joint tenants and the parent dies, the child automatically becomes full owner.
JOINT TENANTS - Those holding joint tenancy.
JUDGMENT (Judgment) - The decision of a court of law. Money judgments, when recorded, become a lien on real property of the defendant.
JUDICIAL FORECLOSURE - Foreclosure through court action rather than by a power of sale. Judicial foreclosure is sometimes necessary to remove certain tax liens.
JUDICIAL SALE - A sale made under court order, by one court appointed, rather than a voluntary sale by the owner.
JUMBO LOAN - A home load that is monetarily more than the limits of Freddie Mac or Fannie Mae.
JUNIOR LIEN - A lien which is subordinate to a prior lien.
JUST COMPENSATION - In condemnation the amount paid to the property owner. Just is defined as making the owner no richer or poorer than before the taking.
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