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Real Estate Terms starting with (J)

The Following are real estate terms and topics: Starting With the Letter (J)

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Are you confused and overwhelmed by the extensive terms and words used in real estate? Every person working in real estate or planning to buy or sell real estate can benefit from learning some of the terms….

Real Estate Terms J

Real Estate Terms J

Joint tenancy
Ownership of real estate between two or more parties who have been named in one conveyance as joint tenants. Upon the death of a joint tenant, the decedent’s interest passes to the surviving joint tenant or tenants by the right of survivorship

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 binding on all the real estate of a judgment-debtor and giving the holder of the judgment a right to levy the land for satisfaction of the judgment.

Judicial foreclosure
This is a type of foreclosure usually done under the supervision of a court – with an aim to ensure fair treatment of all parties in the foreclosure. In this type of foreclosure a court official often does the auction of the property or another government official authorized by the courts.

Jumbo loan
A loan which is larger than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate.

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