Real Estate Glossary


Terms and concepts to improve your real estate understanding.
Browse the glossary using this index

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J

joint tenancy

special 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.

judgment

The 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 act

states that it is illegal to send an unsolicited commercial fax message without express consent or without an established business relationship with the recipient.