Glossary J

 A  M  O  P W X

Jack plane

A woodworker’s tool designed for shaving off small amounts of wood. The workhorse of the plane family, a jack plane is a good length for truing up boards, fitting doors, and similar tasks.

Jalousie window

A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats.

Jamb

A surface that lines an opening for a door.

Joint liability

The responsibility of two or more people to fulfill the terms of a home loan or debt.

Joint tenancy

Ownership by two or more people that gives equal shares of a piece of property. Rights pass to the surviving owner or owners.

Joist

Part of the framing that provides the structure for a floor. In most homes, floor joists are made of 2-by-8s or larger lumber set on edge and spaced 16 inches apart, from center to center.

Judgment

The decision of a court or law. If a court decides that a person must repay a debt, a lien may be placed against that person’s property.

Judicial foreclosure

A procedure to handle foreclosure proceedings as civil matters.

Jumbo loan

Loans that exceed the conforming limits for mortgage loans. In 2003 the conforming limit was set at $322,700 for first-time mortgages on single-family homes in the continental United States, and at $484,050 for those loans in Alaska and Hawaii. Fannie Mae and Freddie Mac update the conforming limits on an annual basis.

Junior mortgage

A loan that is subordinate to the primary loan.

 A  M  O  P W X

Did you know if you Register you have access to free search tools including the ability to save listings and property searches?

Did you know that you can bypass the search altogether and have listings sent directly to your email address?

Kaitlyn Espada

The Alaska Real Estate Lady
Signature Real Estate Alaska
Kaitlyn@AlaskaRealEstateLady.com
(907) 414-1664