Real Estate Terms Glossary - J

· 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. Sub-flooring 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.