Real Estate Glossary

This list is provided for reference only. Each state has it's own real estate laws, terms and regulations for Realtors. In Arizona, your Realtor and Title Company handle most real estate transaction activities that involve attorneys in many other states. However, you have the right to seek the advice of an attorney or other professional counsel in any real estate transaction.

Joint and Several - A liability which allows the creditor to sue any one of the debtors or sue all together.

Joint Tenancy - A type of ownership in which two ore more people have an undivided interest in a property, with the right of survivorship. Upon the death of one owner, his/her interest passes to the remaining owners and not to the heirs or the devises of the deceased. Also see Tenancy in Common - .

Judgement - The official and authentic decision of a court of justice concerning the respective rights and claims of the parties to an action or suit. Money judgments, when recorded, become a lien on real property of the defendant.