Jeopardy
An element of risk or danger.
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Joint and Several Liability
A situation whereby a creditor can demand full repayment from any and all borrowers. Each borrower is liable for the full debt, not just the prorated share.
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Joint Tenancy
A form of co-ownership that gives each tenant equal undivided interest and equal rights in the property, including the right of survivorship.
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Joint Venture
An agreement between two or more parties who invest in a property or business.
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Judgement Search Fee
A fee charged by a title company to search the public record for judgements filed against a property owner or borrower that could ultimately encumber the title of the property. For our comparison purposes, a judgement search fee is considered to be a third party fee. Some lenders will include this fee in the title insurance cost.
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Judgment
A decree made by a court of law. In judgments that require the repayment of 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
A lien on the property of a debtor resulting from a judgment.
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Judicial Foreclosure
Type of foreclosure proceeding used in some mortgage states that is handled like a civil lawsuit and conducted entirely under the direction of a court.
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Jumbo Mortgage
A loan that exceeds the maximum loan amount allowed by the most common mortgage investors. The cost of obtaining a jumbo mortgage is generally higher than the cost of obtaining a conforming mortgage. Also known as a non-conforming loan.
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Just Title
Just Title is also referred to as 'Good Title' that is free and clear from any kind of liens and legal questions on any real estate property.
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