Mortgage and Real Estate Glossary
Alberta Equity's glossary contains hundreds of terms. With this tool, you can click or search through the largest real estate and mortgage glossary in Canada!
- Joint Account
- A bank account owned by two or more persons who share equally in the rights and liabilities of the account.
- Joint Credit
- Issued to a couple based on both of their assets, incomes and credit reports. It generally results in a higher credit limit, but makes both parties responsible for repaying the debt.
- Joint Liability
- The responsibility of two or more people to repay a debt
- Joint Tenancy
- Ownership by two people (usually spouses) in which each person owns an undivided interest in the entire property. When one joint tenant dies, the other has title to the entire property.
- Joint Venture
- An association between two or more parties to own and/or develop real estate. It may take a variety of forms including partnership. It is formed for specific purposes and duration.
- Jointly-Owned Property
- A property held in the name of more than one person.
- The official authentic decision of a court of justice upon the respective rights and claims of the parties to an action or suit therein litigated and submitted to its determination.
- Junior Mortgage
- A mortgage that is subsequent to the claims of the holder of a prior (senior) mortgage.