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Real Estate Glossary J

Posted by RCPAP on May 21, 2006
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We take pride in providing our Dallas Georgia Homes & Rockmart GA Homes Real Estate buyers and sellers with all the answers to common real estate questions. Our goal is to make all your real estate transactions go as smoothly as possible. 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 $300,700. Junior mortgage A loan that subordinate to the primary loan.