Joint Liability
The responsibility shared by two or more people to fulfill the repayment options of a home loan or credit.
Joint Tenancy
It is an ownership by two or more people of an estate with right of survivorship.
Joint agent
More than one Real Estate Agent. Agents who are jointly employed in striking a deal for the buyer. The commission earned in a deal by any one of them is shared among the rest.
Judicial Precedent
In law, the precedents/requirements established by prior court decisions.
Joint Venture
It is an agreement that is entered into by two companies/ two or more people to carry out Real Estate developmental projects. This is for a particular project only and on completion, the JV ceases. The parties must share in the losses and profits of the venture.
Judgment
The final decision determination, decree or sentence of a court
of law of a court that resolves dispute and determines the rights
and obligations of the parties involved.
Junior Mortgage
A mortgage on an already mortgaged property and whose claim will be fulfilled only after satisfaction of the earlier mortgage.