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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 |
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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 |
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Judgment |
A decision or decree made by a court of
law |
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Judgment lien |
A claim against the real property of a debtor,
as decreed by the court |
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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 |
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Junior mortgage, or Secondary
mortgage |
A mortgage whose claim to repayment is of lesser
priority than another, previously recorded mortgage |
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Did We Miss the Word YOU Are Looking For?
Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Fill out the form below for a quick response from us by email. It's free, without obligation, and we guarantee your privacy.
| Q |
What is arguably the world's strangest (and most dysfunctional) kitchen?
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| A |
In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California. |
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Micki Patrick, Associate Broker
RE/MAX All Stars
Serving Botetourt County & The Roanoke Valley
1225 Roanoke Road
Daleville, VA 24083
Micki's Phone: 540-556-2525
Fax: 877-806-2525
Dayna Patrick: 540-342-9600
Email: Micki@MickiPatrick.com
Micki Patrick is a top producing Realtor/Broker with 30+ years experience in the Roanoke Valley of Virginia, which includes Botetourt, Bedford, Craig, Franklin, Floyd and Roanoke Counties.
Micki’s daughter, Dayna Patrick, a Realtor since 1990, with five years experience in the custom-home construction field, assists Micki in delivering creative and highly individualized service to our clients throughout the whole home buying and/or selling process.
Micki and Dayna specialize in country property, residential homes, horse farms and unique properties of all types. Their love of the region, chosen after a countrywide search for the ideal place to live, contributes to their enthusiasm in helping families relocate to the Roanoke area.
Whether helping you to buy or sell your special place, Micki and Dayna make a dynamic team and can help you achieve your real estate goals with ease. Share your vision with us, and let us bring our market knowledge, enthusiasm and expertise to work for you.     
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