Glossary of Real Estate Terms

There are 125 entries in this glossary.
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J

Term Definition
Joint Tenancy

This is a form of ownership or taking title to property which means each party owns the whole property and that ownership is not separate. If one party dies, then the survivor owns the property in its entirety.

Judgment

Judgment is a decision which is 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.

Jumbo loan

Jumbo loan means a loan that exceeds Fannie Maes and Freddie Mac's loan limits, which is currently at $227,150. This is also known as a nonconforming loan. Freddie Mac and Fannie Mae loans are referred to as conforming loans.

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