website created
by
Works of Joy
Glossary of Real Estate Terms
J
| Jalousie window |
| A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats. |
| Joint liability |
| The responsibility of two or more people to fulfill the terms of a home loan or debt. |
| Joint tenancy |
| Ownership by two or more people that gives equal shares of a piece of property Rights pass to the surviving owner or owners. |
| Joist |
| A floor or ceiling support member supported by foundation walls, piers or beams. Subflooring is connected to floor joists. |
| Judgment |
| The decision of a court or law. If a court decides that a person must repay a debt, a lien may be placed against that person's property. |
| Judicial foreclosure |
| A procedure to handle foreclosure proceedings as civil matters. |
| Jumbo mortgage |
| Loans that exceed limits set by Fannie Mae and Freddie Mac. The current limit currently $214,600. |
| Junior mortgage |
| A loan that subordinate to the primary loan. |
