Friday, April 26, 2024, 7:45 PM
Site: America's Real Estate Academy, Inc.
Course: America's Real Estate Academy, Inc. (AREA)
Glossary: Real Estate Glossary
J
joint tenancyspecial form of ownership in real estate by two or more people created by satisfying four unities. The law requires four requirements to be met in order to create a joint tenancy or prevent it from being created inadvertently or by accident. The four unities of joint tenancy are: Possession, Interest, Time, Title, often remembered by the acronym of PITT. |
judgmentThe formal decision of a court upon the respective rights and claims of the parties to an action or suit. After a judgment has been entered and recorded with the county recorder, it usually becomes a general lien on the property of the defendant. |
junk fax prevention actstates that it is illegal to send an unsolicited commercial fax message without express consent or without an established business relationship with the recipient. |