Glossary of Real Estate terms used by Baja Real Estate Group's website.There are 367 Real Estate entries in this glossary. Complete with definitions.
- Joint Tenancy
With Rights of Survivorship - Two or more owners share equal ownership and rights to the property. If a joint owner dies, his or her share of the property passes to the other owners, without probate. In joint tenancy, ownership of the property cannot be willed to someone who is not a joint owner.
A legal decision; when requiring debt repayment, a judgment may include a property lien that secures the creditor's claim by providing a collateral source.
- Jumbo Loan
Or non-conforming loan, is a loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans.