A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

J, K

Joint Ownership Agreement	An agreement made between two or more owners of the same property, defining their rights and responsibilities (e.g. recommended in the case of married owners of property) See Equity sharing
Joint tenancy, or Tenants by the entirety	Ownership of real estate by two or more parties held jointly for life; if one of the owners dies, the survivor(s) inherit the property without reference to the deceased's will
Judgment	A decision or decree made by a court of law
Judgment lien	A claim against the real property of a debtor, as decreed by the court
Jumbo loan, or Non-conforming loan	A loan amount that exceeds the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation; because such loan cannot be funded by these two agencies, it carries a higher interest rate
Junior mortgage, or Secondary mortgage	A mortgage whose claim to repayment is of lesser priority than another, previously recorded mortgage

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips Titles >Liens Against the Title Occasionally homeowners who are trying to sell their home are surprised to learn that their title is encumbered by a lien. There are several types of liens; the most common are mechanic's or contractor's liens. The lien (or debt) must be paid off in order to be cleared. If the owner prefers to challenge the lien, he can release it by posting a bond, pending adjudication. In some types of liens, a title search may disclose claims against the property by an ex-spouse or long-ago heir of a former owner. A simple "quitclaim" deed may be used in these cases. By signing the deed, the person involved signs over whatever rights he or she might have, without laying any claim to the property. Most real estate transactions involve at least some minor unresolved issues on the part of either the buyer or the seller. This is where an experienced real estate agent can provide solutions to resolve the issues and conclude the sale. See All Tips In The "Titles" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What area in the United States has the highest per capita income? A  The New York/New Jersey/Long Island area has a per capita income of over $750,000, according to the most current available U.S. census data. See More Real Estate Trivia >

---

Hank Cosby Hank Cosby Real Estate 3812 Old Buckingham Road Powhatan, VA. 23139 Phone: (804) 598-2875 Fax: (804) 598-2833 Email: hank@hankcosby.com Hank Cosby and his team know the Powhatan and Richmond areas well. You deserve their expertise, knowledge, and commitment on your side. Please do not hesitate to contact Hank and his team for more information. www.hankcosby.com is brought to you by Hank Cosby, real estate for Powhatan County and Western Richmond, Virginia Read Hank Cosby's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

---

NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.