| JEOPARDY | To have one’s property or liberty subjected to a possibly adverse decree of a court or agency |
|
JOINT AND SEVERAL |
An obligation which binds two or more persons individually and jointly. This type of obligation can be enforced by joint action against all or separate actions against one or more. |
|
JOINT TENANCY |
Co-ownership of real property by two or more persons, whereby the joint tenancy have equal interest, accruing by the same conveyance, commencing at the same time, and held by equal and undivided possession. Joint tenancy includes the right of survivorship, by which interest of a deceased tenant passes to survivors |
|
JUDGMENT |
The final determination of the rights and liabilities of the parties in an action, as decreed by a court. |
| JUDICIAL FORECLOSURE | A foreclosure action that is executed by the court |
|
JUNIOR LIEN |
A lien placed upon property after a previous lien has been made and recorded. |
| JUNIOR LIENHOLDER | A holder of a right to force the sale of property that is inferior and subordinate to another lienholder’s right to do the same. A junior lienholder who forces the sale of the real estate must either pay off the senior lien or make arrangements to make payments on it to prevent it from being foreclosed. The foreclosure of a first lien destroys the right of a junior lienholder or foreclose, but the foreclosure of a junior lien does not affect the right of a senior lien to foreclose |
| JUNIOR MORTGAGE | A mortgage second or subsequent in lien to a previous mortgage |
|
JURISDICTION |
The authority to legislate within a geographically defined area; authority to enact general municipal legislation over that particular area. |
|
JUST COMPENSATION |
Market value paid for real estate taken in a condemnation action. |
