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Joint Ownership Agreement |
An agreement made between two or more owners of
the same property, defining their rights and responsibilities
(e.g. recommended in the case of married owners of property)
See Equity sharing |
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Joint tenancy, or Tenants by the entirety |
Ownership of real estate by two or more parties
held jointly for life; if one of the owners dies, the
survivor(s) inherit the property without reference to the
deceased's will |
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Judgment |
A decision or decree made by a court of law |
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Judgment lien |
A claim against the real property of a debtor,
as decreed by the court |
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Jumbo loan, or Non-conforming loan |
A loan amount that exceeds the limits set by the
Federal National Mortgage Association and the Federal Home Loan
Mortgage Corporation; because such loan cannot be funded by
these two agencies, it carries a higher interest rate |
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Junior mortgage, or Secondary mortgage |
A mortgage whose claim to repayment is of lesser
priority than another, previously recorded mortgage |
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