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| Gregory Realty Company |
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| Gregory Realty Co. |
| 325 West Gate Plaza |
| Franklin, NC 28734 |
| Office: 828-524-7121 |
| Fax: 828-524-7522 |
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| Real Estate Terms Glossary |
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| Jalousie window |
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| A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats. |
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| Joint liability |
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| The responsibility of two or more people to fulfill the terms of a home loan or debt. |
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| Joint tenancy |
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| Ownership by two or more people that gives equal shares of a piece of property. Rights pass to the surviving owner or owners. |
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| Joist |
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| A floor or ceiling support member supported by foundation walls, piers or beams. Subflooring is connected to floor joists. |
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| Judgment |
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| The decision of a court or law. If a court decides that a person must repay a debt, a lien may be placed against that person's property. |
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| Judicial foreclosure |
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| A procedure to handle foreclosure proceedings as civil matters. |
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| Jumbo mortgage |
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| Loans that exceed limits set by Fannie Mae and Freddie Mac. The current limit is $214,600. |
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| Junior mortgage |
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| A loan that subordinate to the primary loan. |
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