Genesis Associates Mortgage Definitions "J" (866) 410.4410

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Definitions of Mortgage Terms

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Joint Tenancy - An ownership of property by two or more persons each of whom has an undivided interest subject to the right of survivorship.

Joint Venture - An arrangement under which two or more people or businesses go into a single venture as partners. Priority is determined solely by date of registration.

Judgement - The official and authentic decision of a court of justices upon the respective rights and claims of the parties to an action or suit therein litigated and submitted to its determination.

Judicial Sale - A legal remedy available to a mortgagee when a mortgage is in default.

Junior Mortgage - A mortgage that is subsequent to the claims of the holder of a prior (senior) mortgage.

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