GLOSSARY of American & Mexican Real Estate Terms
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Joint Tenancy
A form of concurrent ownership, which occurs when two or more persons own a single estate in land, with right of survivorship. Must have equal shares, right to partition.
Joint Venture
An agreement by two or more individuals or entities to engage in a single project or undertaking.
Judgment Lien
The charge upon the land of a debtor, resulting from the decree of a court, entered in the judgment docket. Lawsuit.
Junior Lien
An encumbrance, second in priority, to a previously recorded lien or to a lien to which the encumbrance has been subordinated.
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