Real Estate Terms J

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Joint Tenancy -Undivided interest in a property by at least two or more joint tenants. The interests must equal and starting at the same time. Should one of the joint tenants pass away, the interest in the property passes to the surviving joint tenant (or tenants) rather than the deceased's heirs.

Judgment - The result of a losing a court case, usually involving monies owed. When the judgment stipulates a dollar amount, it becomes a lien against any real property(title) of the losing defendant.  In most cases, these liens must be resolved before a property may be sold and the title transferred to the new owner. See cloud on title.

Real Estate Glossary