Real Estate Glossary "J"
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
joint tenancy - Ownership by two or more people who own an undivided interest with right of survivorship. Four unities are required to create a joint tenancy: time, title, interest and possession. joint venture - A business entity created for a single project, usually intended to last a limited period of time. judgment - A decree issued by the court at the conclusion of a lawsuit. After recording in the county records, it usually becomes a general lien on the defendant's property. judicial foreclosure - Foreclosure procedures that use the courts. These procedures include judicial sale and strict foreclosure. judicial scale - A type of judicial foreclosure in which the lender uses the acceleration clause in the mortgage and then files a suit to have the property sold and the loan paid. junior mortgage - A loan that is subordinate to a prior mortgage. |
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