Real Estate Terms 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

· 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. Sub-flooring 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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Cara O'Bryant
Realtor Associate
Licensed in Mississippi & Tennessee
901-212-0047

Cara O'Bryant, Realtor

Bob Leigh & Associates Realtors, LLC
6900 Cobblestone Blvd
Southaven, MS 38672
662-890-9696