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Joint Tenancy
A form of co-ownership that gives each of two or more tenants equal interest and equal rights in the
property, including right of survivorship.
Judgment
A decision 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.
Judgment Lien
A lien on the property of a debtor resulting from the decree of a court.
Judicial Foreclosure
A type of foreclosure proceeding used in some states
that is handled as a civil lawsuit and conducted entirely under the auspices of a court.
Jumbo Loan
A loan that exceeds Fannie Mae's legislated
mortgage amount limits.
Also called a nonconforming loan.
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