REAL ESTATE TERMS GLOSSARY
||A form of ownership or taking title to property which means each party owns the whole property and that ownership is not separate. In the event of the death of one party, the survivor owns the property in its entirety.
||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 debtors real property as collateral for the judgments creditor.[Top]
||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. Other states use non-judicial foreclosure.
||A loan that exceeds Fannie Maes and Freddie Macs loan limits, currently at $227,150. Also called a nonconforming loan. Freddie Mac and Fannie Mae loans are referred to as conforming loans.
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