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Glossary of Real Estate Terms
This Glossary has
been provided as a courtesy to assist you in
gathering information relative to real estate
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D
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E
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F
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G
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H
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I
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J
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L
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M
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N
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O
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P
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Q
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R
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T
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U
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J |
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Joint Venture (JV):
An agreement by two or more individuals or
entities to engage in a single project or
undertaking. Joint ventures are used in real
estate development as a means of raising capital
and spreading risk. For all practical purposes a
joint venture is similar to a general
partnership. However, once the purpose of the
joint venture has been accomplished, the entity
ceases to exist. |
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Judgment:
The final decision of a court resolving a
dispute and determining the rights and
obligations of the parties. Money judgments,
when recorded, become a lien on real property of
the defendant. |
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Judgment Lien:
An encumbrance that arises by law when a
judgment for the recovery of money attaches to
the debtor’s real estate. |
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Just Compensation:
Compensation which is fair to both the owner and
the public when property is taken for public use
through condemnation (eminent domain). The
theory is that in order to be “just”, the
property owner should be no richer or poorer
than before the taking. |
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