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Anita Kay |
Buyer Tips | Seller Tips | General Tips Real Estate Terms
Joint Ownership Agreement: An agreement made between two or more owners of the same property, defining their rights and responsibilities (e.g. recommended in the case of married owners of property) Joint tenancy, or Tenants by the entirety: Ownership of real estate by two or more parties held jointly for life; if one of the owners dies, the survivor(s) inherit the property without reference to the deceased's will Judgment: A decision or decree made by a court of law Judgment lien: A claim against the real property of a debtor, as decreed by the court Jumbo loan, or Non-conforming loan: A loan amount that exceeds the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation; because such loan cannot be funded by these two agencies, it carries a higher interest rate Junior mortgage, or Secondary mortgage: A mortgage whose claim to repayment is of lesser priority than another, previously recorded mortgage Copyright © 2000-2003 by Anita Kay, Vista Real Estate,
St. George, Your Southern Utah Real Estate Agent |
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