"J"

Real Estate & Mortgage Terms (Disclaimer: Always seek advice  regarding questions for: Legal, Tax, Accounting, Lending, Surveying, Inspecting, etc. from those other areas of expertise.  They may best answer questions regarding these matters!  Additionally, please allow that "typos" / errors / changes may occur at this site and / or other sites, herein referred / linked to...  Information is presented only for your convenience.  Any corrections or suggestions are gladly received!  Thanks for visiting our site!   Quigley Team, Realty World - John Horton & Assoc.)

Joint and Several Liability: A creditor can demand full repayment from any and all of those who have borrowed. Each borrower is liable for the full debt, not just the prorated share.

Joint Tenancy: Ownership of a property by 2 or more people, each of whom has an undivided interest with the right of survivorship. Example: John and Mary own a house in joint tenancy. Each owns half of the entire (undivided) property. If John dies, Mary will own the entire property and vice versa.

Judgment: The decision of a court of law stating that one individual is indebted to another and fixing the amount of indebtedness. Judgments, when recorded, become a lien on real property owned by the defendant.    (Top)

Judgment Lien: The claim on the property of a debtor resulting from a judgment.

Jumbo Loan: Loan size that is larger than the limit established by Fannie Mae or Freddie Mac.

Junior Mortgage: A mortgage subordinate to another mortgage. In the case of a foreclosure a senior mortgage will be paid prior to a junior mortgage.   (Top)

Link to>> J Terms

Contact the Quigley Team:

Quigley Team Realty, LLC

(512) 401-0488(866) 291-0213

Office
Fax

  AUSTIN "STATS" Search Homes DB Special Programs Featured Homes  

       Featured Leases Lease Advice  School Ratings   Quigley's Links  

R/E Terms Some of our Solds... Home

Austin real estate, in Austin, Round Rock, Cedar Park, Leander, Pflugerville, Lakeway,  Dripping Springs, Lago Vista,  Georgetown,  and other neighboring communities in the hill country and central Texas. Search for properties in Travis, Williamson, and Hays counties to find your dream home, or an investment property!  Members of the Quigley Team are experienced real estate professionals who practice real estate by the Golden Rule and will  help you buy or sell a home or other real estate, including investment property in the Central Texas area.

--- http://www.quigleyteam.com the only real estate site you need! ---