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Frequently
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Glossary
of Real Estate Terms
Glossary for "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 is $214,600.
Junior
mortgage
A loan that subordinate to the primary loan.
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