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Welcome > Resources > Real Estate Dictionary - A
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J, K
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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 |
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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 |
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Judgment |
A decision or decree made by a court of
law |
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Judgment lien |
A claim against the real property of a debtor,
as decreed by the court |
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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 |
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Junior mortgage, or Secondary
mortgage |
A mortgage whose claim to repayment is of lesser
priority than another, previously recorded mortgage |
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Selling Your Home >Keeping Your House Safe
Home safety precautions are always important, but it is especially important to make your home "accident-proof" while it is on the market. Many strangers will be coming through your home who won't be aware of the minor hazards that you and your family instinctively avoid.
Go through your home with an eye for potential hazards. Remove the obstacles that you can and post "watch your head" or "watch your step" signs where they are needed. Look for loose banisters, uneven steps, precariously placed plants, art objects or anything else that could fall on someone, wet spots on bath or kitchen floors, toys that someone might fall over and anything that you have to step over or duck under. Make sure that rugs will not slip, especially those at the bottom of stairs. There aren't many things that will more quickly dampen a buyer's enthusiasm for a house than a bump on the head or an unexpected trip down a flight of stairs.
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| Q |
What document must lenders provide within three days of receiving your application for financing?
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| A |
The "Truth In Lending Disclosure Statement" will give you complete financial information about the loan. |
 See More Real Estate Trivia > |
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