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P |
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R |
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U |
V |
W |
YZ
| Home |
| Jetty |
A
pier or other structure built out into a body of water. Pier and
post is a fairly common foundation for properties partially on
water.
|
| Joint and Several Note |
Two or more parties who are responsible for the
entire amount of the debt.
|
| Joint Appraisal |
An appraisal done by more than one appraiser, but
with one appraiser stating the conclusion of all.
|
| Joint Tenancy |
A form of co-ownership that gives each tenant
equal interest and equal rights in the property, including the
right of survivorship.
|
| Judgment |
A Court act creating or affirming an obligation, such as a debt. The
court may place a lien against the debtor's real property as
collateral for the judgment's creditor.
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| Judgment Lien |
An unpaid, court-ordered, monetary judgment against
a current or previous property owner.
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| Judgment Proof |
Someone who a judgment creditor cannot collect due
to no assets.
|
| Judicial Foreclosure |
A type of foreclosure proceeding used in some
states that is handled as a civil lawsuit and conducted entirely
under the auspices of a court.
|
| Jumbo Mortgage |
The current loan limit for a conforming loan is
$333,700. Loans for amounts above $333,700 are considered
non-conforming or jumbo mortgages.
|
| Just Compensation
When an owner receives the fair market value of a property that
is taken by the government. |
| Key Tenants |
Any tenant contributing revenues of 30% or more
of the total revenue for a particular property.
|
| Kicker |
A payment to a lender in addition to the ordinary
fixed-interest payments. It may include an equity position in a
property or a percentage participation in the income stream.
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