Real Estate Terms Glossary
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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
is $300,700.
Junior mortgage
A loan that subordinate to the primary loan.