Your Online Legal Resource Center for Property Management

JACK POST - A support post used in older houses to raise sagging floors or level them; the jack itself screws up or down inside the post.

JACOB'S LADDER - A suspended wooden ladder with rope side used for attic access, etc.

JACUZZI - A trade name for a ceramic tiled pool of hot circulation water usually attached to a swimming pool or built into a bathroom.

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.

JERRYBUILT - A building or structure of inferior quality.

JOINDER - Binding together by some legal process.

JOINT AND SEVERAL - A debt which a creditor may sue either one party separately or several jointly for repayment.

JOINT LIABILITY - The responsibility of two or more people to fulfill the terms of a home loan or debt.

JOINT NOTE - A promissory note signed by more than one party

JOINT PROTECTION POLICY - Title insurance which insures both the lender and the owner together.

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.

JOINTURE - An agreement between a husband and wife that entitles her to a life estate in property after his death.

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 of 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 currently $214,600.

JUNIOR LIEN - A lien which takes second place to another recorded lien.

JUNIOR MORTGAGE - A loan that is subordinate to the primary loan.

JUST COMPENSATION - The amount paid to a property owner under condemnation proceedings.

JUSTIFIED PRICE - The price an informed and prudent buyer would be warranted in paying for property; may not be market price.