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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

Joint Ownership - The common ownership of real or personal property by two or more persons. The persons involved are either joint tenants or tenants in common.

Joint Tenants - Two or more entities owning an undivided interest in property. The interests must be equal -- accruing under the same conveyance (deed) and beginning at the same time. Upon the death of a joint tenant, the interest passes to the surviving joint tenants, rather than to the heirs of the deceased.

Judgment - The determination of a court regarding the rights of parties in an action. A judgment of debt on a property owner can create a lien on all of that owner's land within a certain jurisdiction.

Jumbo Loan - A loan which is larger than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (more than $252,700).

Junior Mortgage - Also known as "second mortgage" or "equity line of credit." A mortgage lower in lien priority than another that is secured by real property that is already secured by a mortgage.