Real Estate Terms

Jalousie window A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats.
Joint liability The responsibility of two or more people to fulfill the terms of a home loan or debt.
Joint tenancy Ownership by two or more people that gives equal shares of a piece of property. Rights pass to the surviving owner or owners.
Joist A floor or ceiling support member supported by foundation walls, piers or beams. Subflooring is connected to floor joists.
Judgment The decision of a court or law. If a court decides that a person must repay a debt, a lien may be placed against that person’s property.
Judicial foreclosure A procedure to handle foreclosure proceedings as civil matters.
Jumbo mortgage Loans that exceed limits set by Fannie Mae and Freddie Mac. The current limit is $214,600.
Junior mortgage A loan that subordinate to the primary loan.