The real estate industry has its own unique language and, without some knowledge of this
language, you may find yourself a bit confused if you become involved in a real estate
transaction. With this in mind, the experts at Commonwealth Land Title Insurance Company
have compiled the following glossary of terms commonly used in the real estate industry.
Whether you are entering the real estate market for the first time or have invested in it
before, this handy reference will provide an understanding of basic real estate words and
phrases.
Judgment -
Junior Mortgage -
The determination of a court regarding the rights of parties in an action. A judgment of debt on a property owner can create a lien on all of that owner’s land within a certain jurisdiction.
Junior Mortgage -
A mortgage lower in lien priority than another.