Local Area Index

Contact EXIT Team Realty

If you have any questions or need more detailed information, please feel free to contact us via phone at 401.349.5000 or fill out the form to let us know how we can help with your real estate needs.

Office Location

375 Putnam Pike Ste 35,
Smithfield, RI 02917
Phone: (401) 349-5000
Fax: (401) 349-5099

Real Estate Glossary

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Jeopardy
An element of risk or danger.

Joint Account
A credit account held by two or more people so that all can use the account and all assume legal responsibility to repay.

Joint and Several Liability
A situation whereby a creditor can demand full repayment from any and all borrowers. Each borrower is liable for the full debt, not just the prorated share.

Joint Tenancy
A form of co-ownership that gives each tenant equal interest and equal rights in the property, including the right of survivorship.

Joint Venture
An agreement between two or more parties who invest in a property of business.

Judgment
A decision made by a court of law. In judgments that require the repayment of a debt, the court may place a lien against the debtor's real property as collateral for the judgment's creditor.

Judgment Lien
A lien on the property of a debtor resulting from the decree of a court.

Judgment Search Fee
A fee charged by a title company to search the public record for judgments filed against a property owner or borrower that could ultimately encumber the title of the property.

Judicial Foreclosure
A type of foreclosure proceeding used in some states that is handled as a civil lawsuit and conducted entirely under the auspices of a court.

Jumbo Mortgage
A loan that exceeds the maximum loan amount allowed by the most common mortgage investors. The cost of obtaining a jumbo mortgage is generally higher than the cost of obtaining a conforming mortgage. Also called a nonconforming loan.

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