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Halifax Nova Scotia Real Estate Glossary J
(J Factor - Judicial Foreclosure)

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J Factor
Factor used by appraisers and investors to determine the changes needed in operating income to obtain a desired rate of return. This factor is determined after consideration of the location, rental, similar properties and cost of maintenance.

J Hook
Electrical wire in which a hook like bend in its end helps to shape and fit it around an electrical terminal.

Job Site
Construction location.

Jogging
Another term for inching, which is the movement of a crane hook, bridge or trolley when they are moved in short, jerky increments, such as stop and start.

Joint
Used to indicate a common property ownership interest in real estate. Indicates a shared liability in terms of a contractual relationship.

Joint and Several Liability
Situation wherein each borrower, on the same note, is held fully liable for the entire amount of the debt, not just a portion. The creditor may demand full repayment from any individual.

Joint Clearance
Gap between surfaces to be joined by welding, where the gap will help ensure that the weld filler penetrates to the needed depth in the base metal.

Joint Liability
Two or more people sharing the responsibility of fulfilling the terms of a debt.

Joint Note
More than one maker on a note where if one or more of the makers default on the note, all of the makers are sued jointly, rather than just one or all, to make restitution.

Joint Ownership
Ownership of real estate with two or more individuals having equal ownership with, upon the death of one owner, the property is transferred to the survivor.

Joint Tenancy
Equal ownership, by two or more people, each of whom has an undivided interest, with the right of survivorship.

Joint Venture
An agreement between two or more parties to invest in a specific single business or property. Although not a continuing relationship, it is treated as a partnership for income tax purposes.

Judgment
Decision, by a court, that a party must repay a debt and a lien may be placed against property owned by that party.

Judgment Creditor
The party to whom the court awarded a financial judgment against a debtor.

Judgment Debtor
The party against whom the court has placed a financial judgment.

Judicial Foreclosure
Property of a defaulted borrower is sold under court order and the amount received is ratified by the Court.