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Tim Abraham Direct : 918-806-6295 Cell : 918-260-7325 Email Me 501 S Aspen Ave Broken Arrow, OK 74012-2296 |
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REAL ESTATE DICTIONARY
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Results
| J Back to top |
| jack plane A woodworker's tool designed for shaving off small amounts of wood. The workhorse of the plane family, a jack plane is a good length for truing up boards, fitting doors, and similar tasks. |
| 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. |
| jamb A surface that lines an opening for a door. |
| joint liability The responsibility of two or more people to fulfill the terms of a home loan or debt. |
| 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. |
| J Back to top |
joist Part of the framing that provides the structure for a floor. In most homes, floor joists are made of 2-by-8s or larger lumber set on edge and spaced 16 inches apart, from center to center. |
| judgment The decision of a court or 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 loan Loans that exceed the conforming limits for mortgage loans. In 2003 the conforming limit was set at $322,700 for first-time mortgages on single-family homes in the continental United States, and at $484,050 for those loans in Alaska and Hawaii. Fannie Mae and Freddie Mac update the conforming limits on an annual basis. |
| junior mortgage A loan that is subordinate to the primary loan. |
