Glossary - J

Jack plane
A woodworker's tool designed for shaving off small amounts of wood.

 

Jalousie window
A window consisting of vertical rows of horizontal glass slats that operate together by a crank mechanism connecting 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 other financial debt.

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

 

Joist
Part of the framing that provides the structure for a floor.

Judgment
A decision by 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 way to handle foreclosure proceedings as civil matters.

Jumbo loan
Loans that exceed the conforming limits set annually by Fannie Mae & Freddie Mac.

 

Junior mortgage
A loan that is subordinate to the primary loan.