Real Estate Glossary
- 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.