Glossary of Real Estate Terms (ja-ju)

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

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 is subordinate to the primary loan.