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Word: Definition:
JOINT AND SEVERAL An obligation which binds two or more persons individually and jointly. This type of obligation can be enforced by joint action against all or separate actions against one or more.
JOINT TENANCY Co-ownership of real property by two or more persons, whereby the joint tenancy have equal interest, accruing by the same conveyance, commencing at the same time, and held by equal and undivided possession.
JUDGMENT The final determination of the rights and liabilities of the parties in an action, as decreed by a court.
JUNIOR LIEN A lien placed upon property after a previous lien has been made and recorded.
JURISDICTION The authority to legislate within a geographically defined area; authority to enact general municipal legislation over that particular area.
JUST COMPENSATION Market value paid for real estate taken in a condemnation action.