REAL ESTATE DICTIONARY - J
Joint and Several Liability
A liability which allows the creditor to sue any one
of the debtors or sue all together.
Joint Tenancy
An undivided interest in property taken by two or more
joint tenants. The interests must equal, accruing under
the same conveyance and beginning at the same time.
Upon death of a joint tenant, the interest passes to
the surviving joint tenants rather than to the heirs
of the deceased.
Judgment
The decision of a court of law. Money judgments, when
recorded, become a lien on real property of the defendant.
Junior Mortgage
A mortgage subordinate to another mortgage.
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