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Real Estate Dictionary
Welcome > Resources > Real Estate Dictionary - A

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

J, K

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

Judgment

A decision or decree made by a court of law

Judgment lien

A claim against the real property of a debtor, as decreed by the court

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

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



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Real Estate Trivia
Q 
What are the three most common environmental toxins for which homes are tested?

A 
Mold, asbestos, and lead are tested by specialized inspectors as a regular part of many real estate contracts.
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The Alex Nova Real Estate Team, REALTOR®, real estate agents and broker for Chesapeake, Virginia Beach and Norfolk, Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

The Alex Nova Real Estate Team
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575 Lynnhaven Pkwy
Virginia Beach, VA. 23452
Phone: 757-217-1912
Fax: 757-819-1200
Email: alexnova@NUMBER1EXPERT.com

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