Real Estate Glossary

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

joint tenancy
A form of co-ownership that gives each tenant equal interest and equal rights in the property,
including the right of survivorship.

judgment
A decision made by a court of law. In judgments that require the repayment of a debt, the
court may place a lien against the debtor's real property as collateral for the judgment's creditor.

judgment lien
A lien on the property of a debtor resulting from the decree of a court.

judicial foreclosure
A type of foreclosure proceeding used in some states that is handled as a civil lawsuit and
conducted entirely under the auspices of a court.

jumbo loan
A loan that exceeds Fannie Mae’s legislated mortgage amount limits. Also called a
nonconforming
loan.