Real Estate Glossary

Letter J

Jack RafterA short rafter, used in a hip roof or valley roof, or to simulate a rafter which extends beyond the exterior walls.

Jacob's LadderA hanging ladder, made with wooden steps and sides of rope.

JalousiesFixed or adjustable horizontal slats, used in doors, windows, shutters, etc., to keep out sun and rain, while letting in light and air.

JambThe vertical lining of an opening, such as a doorway, fireplace, window, etc.

JanitorOne who is hired to take care of a building. Generally associated with cleaning, locking up after closing, and minor repair.

Jerry-BuiltA structure built of inferior and inexpensive materials. Poorly built.

Jetty(1) A pier or other structure (usually of stones), built out into a body of water to hinder the currents and so protect a harbor. (2) A part of a building which projects out beyond the exterior walls, such as an overhanging second story, a balcony, etc.

JoinderJoining together in some legal proceeding.

Joint(1) Meaning two or more, such as joint tenants, joint adventurers, etc. (2) The point of union or connection of two members, whether pipes, boards, or other members.

Joint AdventureA combining by two or more persons of their property, skill, efforts, etc., for a specific business purpose. Single purpose partnerships are now most commonly used and are based on the same idea of the single purpose business venture.

Joint And Several LiabilityAllowing the plaintiff to sue one defendant (sever that one from the others) for the entire amount of damages, as well as the ability to sue more than one or all defendants (joint).

Joint AppraisalAn appraisal by more than one appraiser, but one which states common conclusions of all.

Joint EstateSee: Joint Tenancy.

Joint NoteA promise to pay, executed by two or more persons, each having equal liability. See also: Surety.

Joint OwnershipProperty owned by more than one person or entity.

Joint Protection PolicyA policy of title insurance which insures both the owner and the lender under the same policy.

Joint TenantsThose holding under joint tenancy. See also: Joint Tenancy.

JointureA life estate for a wife which takes effect upon the death of her husband. Takes the place of dower, but must be agreed to by the wife and is not an automatic right such as dower.

Joint VentureThe joining of two or more people to conduct a specific business enterprise. A joint venture is similar to a partnership in that it must be created by agreement between the parties to share in the losses and profits of the venture. It is unlike a partnership in that the venture is for one specific project only, rather than for a continuing business relationship.

JoistsSmall beams, usually not more than five inches thick, which are in parallel and support floors and ceilings. The joists are supported by larger beams, bearing walls, girders, etc. A joist is rectangular in cross-section, the narrow face being the joist, the wide face the plank.

Joists And Rafters (roofing)A type of roof frame with joists supported by the outer load-bearing walls and a central load-bearing wall that acts as the beams do for the floor joists. The ceiling joists run horizontally, parallel to the floor; the ceiling rafters begin on the outer load-bearing walls but rise as they come to the center peak of the roof (sloped joist).

Judgement CreditorA person, corporation, etc., that has been awarded a money judgement by a court. Recording and abstract of said judgement will create a lien on real property owned by the judgement debtor in the county where the abstract is recorded.

Judgement DebtorA person, corporation etc., against whom a money judgement has been awarded by a court. See: Judgement Creditor.

Judgment ClauseA provision that may be included in notes, leases, and contracts by which the debtor, lessee, or obligor authorizes any attorney to go into court to confess a judgment against him or her for a default in payment. Also called a cognovit.

Judgment CreditorA person who is owed money as a result of a being awarded a judgment in a lawsuit.

Judgment DebtorA person who owes money as a result of a judgment in a lawsuit.

Judgment (judgement)The decision of a court of law. Money judgments, when recorded, become a lien on real property of the defendant.

Judgment LienA lien against the property of a judgment debtor. An involuntary lien.

Judgment ProofOne against whom a judgment creditor cannot collect (no assets). If one can show he was defrauded by a "judgment proof" real estate licensee, he may recover from the state fund in states having such a fund.

Judicial OpinionA court's written statement outlining the facts of a particular case and explaining the legal basis for the decision.

Judicial PartitionCourt action to divide real property among its co-owners so each owns part in severalty, or (if it is not practical to physically divide the property) each gets a share of the sale proceeds.

Judicial ReviewWhen a court considers whether a statute or regulation is constitutional.

Judicial SaleA sale made under court order, by one court appointed, rather than a voluntary sale by the owner, or one appointed by the owner.

Jumbo LoansLoans that exceed the maximum amount established by Fannie Mae and Freddie Mac for conforming mortgage loans, making them nonconforming loans.

Jumbo Va LoanA loan for an amount greater than the allowable 100% financed amount. It is determined by subtracting the maximum allowable 100% financed amount from the purchase price and financing 75% of the difference. Example: maximum allowable VA Loan - $110,000. Sale price - $130,000. Difference is $20,000;75% of the difference is $15,000. Total jumbo loan - $110,000 plus $15,000=$125,000. Required down payment - $5000.

Junction BoxA metal box used to enclose the meeting (junction) of electrical circuits, wires, and cables.

Junior LienA lien which is subordinate to a prior lien.

Junior LienholderSecured creditor with a lower priority lien than another lien on the same land.

Junior MortgageAny mortgage of lesser priority than a first mortgage.

Junk ValueSee: Salvage Value.

Jurat(1) The certificate of an officer before whom a writing was sworn to, such as a notary public. (2) That part of an affidavit stating where, when, and before whom, the affidavit was sworn.

JurisdictionThe extent of the authority of a court, or other governmental branch or agency.

Just CompensationIn condemnation the amount paid to the property owner. The theory is that in order to be "just", the property owner should be no richer or poorer than before the taking.