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1 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 

-J-

Joint and Several Liability
Legal obligation where two or more parties are liable for the full payment of a debt or obligation and costs that are associated with any judgments, even if either party is only partially responsible for losses inflicted, whether bodily injury and/or property damage.

Joint Tenancy
An equal co-ownership interest of a property where each person has equal rights in a property, including the right of survivorship upon the death of one joint tenant to the automatic succession of the title of the deceased tenant.

Joint Venture
A partnership or conglomerate, formed often to share risk or expertise. This individuals share in the losses and profits of only one specific project rather than as a continuing business relationship.

Judgment
A decision made by a court of law. In judgments that require the repayment of a debt, the court may place a lien against the debtor's real property as collateral for the judgment's creditor.

Judgment Lien
A lien on the property of a debtor resulting from the decree of a court.

Judicial Foreclosure
A type of foreclosure enforced by court action to collect a debt owed.


Jumbo Loan
A loan that exceeds $250,000. Not all lenders offer jumbo loans and those who do may charge a higher interest rate. Also called a nonconforming loan.

Just compensation
The amount paid to the owner of a property when it has been acquired under the power of Eminent Domain. The amount should be the Fair Market Value of the property at the time of taking.

1 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

The definitions of Real Estate Definitions found on 10Realty.com are for general information only. All information is subject to change and should be independently verified. 10Realty.com makes no representations or warranties of any nature with regard to the information found on the pages therein. 10Realty.com assumes no responsibility for any liabilities or losses claimed or incurred as a result of using this information. (Real Estate Terms, Investment Terms, Banking Terms explained, definitions, legal definitions, legal terms and definitions)

 

 

 

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