A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

J, K

Joint Ownership Agreement	An agreement made between two or more owners of the same property, defining their rights and responsibilities (e.g. recommended in the case of married owners of property) See Equity sharing
Joint tenancy, or Tenants by the entirety	Ownership of real estate by two or more parties held jointly for life; if one of the owners dies, the survivor(s) inherit the property without reference to the deceased's will
Judgment	A decision or decree made by a court of law
Judgment lien	A claim against the real property of a debtor, as decreed by the court
Jumbo loan, or Non-conforming loan	A loan amount that exceeds the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation; because such loan cannot be funded by these two agencies, it carries a higher interest rate
Junior mortgage, or Secondary mortgage	A mortgage whose claim to repayment is of lesser priority than another, previously recorded mortgage

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The Pederson Team RE/MAX Lakes Area Realty PO Box 370 35548 County Road 66 Crosslake, MN 56422 Toll Free: 877-692-5253 Locally: 692-5253 Fax 218-692-5252 Email: lakes@pedersonteam.com We are #1 with our clients and our clients are #1 with us! Our TEAM of five professionals has over 80 years combined experience helping buyers and sellers make their Real Estate dreams a reality. Our TEAM members are the BEST in the industry! We are all committed to providing you with outstanding service and exceeding your expectations, and which is the cornerstone of our success. Whether you are buying or selling, our knowledge of the market, our experience, and our state of the art technology ensure positive results! THE PEDERSON TEAM strives to have a profound and positive impact on the lives of others through integrity and competence in the course of all our real estate business. Each Office Independently Owned and Operated www.PedersonTeam.com is brought to you by The Pederson Team, real estate for Crosslake, Brainerd Lakes Area and Whitefish Chain of Lakes, Minnesota Read The Pederson Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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