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Joint Ownership Agreement |
An agreement made between two or more owners of
the same property, defining their rights and responsibilities (e.g. recommended
in the case of married owners of property)
See Equity
sharing |
|
Joint tenancy, or Tenants by the
entirety |
Ownership of real estate by two or more parties
held jointly for life; if one of the owners dies, the survivor(s) inherit the
property without reference to the deceased's will |
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Judgment |
A decision or decree made by a court of
law |
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Judgment lien |
A claim against the real property of a debtor,
as decreed by the court |
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Jumbo loan, or Non-conforming
loan |
A loan amount that exceeds the limits set by the
Federal National Mortgage Association and the Federal Home Loan Mortgage
Corporation; because such loan cannot be funded by these two agencies, it
carries a higher interest rate |
|
Junior mortgage, or Secondary
mortgage |
A mortgage whose claim to repayment is of lesser
priority than another, previously recorded mortgage |
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| Q |
In which 'Oil Sheikdom' of the Far East do the wealthy still choose to live in primitive houses on stilts?
|
| A |
Brunei's oil wealth results in no income tax, free education and health services, and cheap housing loans for its average citizen. |
 See More Real Estate Trivia > |
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Keller Williams Success Realty
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Bill Fitzgerald, after serving in the United States Air Force for 24 years, launched an exciting career in real estate and has over ten years of professional sales experience. As a highly trained Certified Residential Specialist (CRS) and after making many military moves himself, Bill understands completely the full range of emotions felt by buyers and sellers faced with one of the most challenging and complicated decisions of their lives…the purchase and sale of a home.   
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