JOINT APPRAISAL
- An appraisal by more than one appraiser, but one which
states common conclusions of all.
JOINT TENANCY
- An undivided interest in property, taken by two or more joint
tenants. The interest must be equal, accruing under the same
conveyance, and beginning at the same time. Upon the death of a joint
tenant, the interest passes to the surviving joint tenants, rather than
to the heirs of the deceased.
JOINT TENANTS
- Those holding joint tenancy.
JUDGMENT (Judgment)
- The decision of a court of law. Money judgments, when recorded,
become a lien on real property of the defendant.
JUDICIAL FORECLOSURE
- Foreclosure through court action rather than by a power of sale.
Judicial foreclosure is sometimes necessary to remove certain tax
liens.
JUDICIAL SALE - A
sale made under court order, by one court appointed, rather than a
voluntary sale by the owner.
JUMBO LOAN - A home
load that is monetarily more than the limits of Freddie Mac or Fannie
Mae.
JUNIOR LIEN - A lien
which is subordinate to a prior lien.
JUST COMPENSATION
- In condemnation the amount paid to the property owner. Just is
defined as making the owner no richer or poorer than before the taking.