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A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

JACK RAFTER - short rafter, used in a hip roof or valley roof, or to simulate a rafter which extends beyond the exterior walls.

JACOB'S LADDER - hanging ladder, made with wooden steps and sides of rope.

JALOUSIES - Fixed or adjustable horizontal slats, used in doors, windows, shutters, etc., to keep out sun and rain, while letting in light and air.

JAMB - vertical lining of an opening, such as a doorway, fireplace, window, etc.

JANITOR - One who is hired to take care of a building. Generally associated with cleaning, locking up after closing, and minor repair.

JERRY-BUILT - structure built of inferior and inexpensive materials. Poorly built.

JETTY - (1) pier or other structure (usually of stones), built out into a body of water to hinder the currents and so protect a harbor. (2) A part of a building which projects out beyond the exterior walls, such as an overhanging second story, a balcony, etc.

JOINDER - Joining together in some legal proceeding.

JOINT - (1) Meaning two or more, such as joint tenants, joint adventurers, etc. (2) The point of union or connection of two members, whether pipes, boards, or other members.

JOINT ADVENTURE - combining by two or more persons of their property, skill, efforts, etc., for a specific business purpose. Single purpose partnerships are now most commonly used and are based on the same idea of the single purpose business venture.

JOINT AND SEVERAL LIABILITY - Allowing the plaintiff to sue one defendant (sever that one from the others) for the entire amount of damages, as well as the ability to sue more than one or all defendants (joint).

JOINT APPRAISAL - appraisal by more than one appraiser, but one which states common conclusions of all.

JOINT ESTATE - Also See: Joint Tenancy.

JOINT NOTE - promise to pay, executed by two or more persons, each having equal liability. See also: Surety.

JOINT OWNERSHIP - Property owned by more than one person or entity.

JOINT PROTECTION POLICY - policy of title insurance which insures both the owner and the lender under the same policy.

JOINT TENANCY - undivided interest in property, taken by two or more joint tenants. The interests must be equal, accuring under the same conveyance, and beginning at the same time. Upon the death of a joint tenant, the interest passes to the surviving joint tenants, rather than to the heirs of the deceased.

JOINT TENANTS - Those holding under joint tenancy. See also: Joint Tenancy.

JOINT VENTURE - Also See: Joint Adventure.

JOINTURE - life estate for a wife which takes effect upon the death of her husband. Takes the place of dower, but must be agreed to by the wife and is not an automatic right such as dower.

JOISTS - Small beams, usually not more than five inches thick, which are in parallel and support floors and ceilings. The joists are supported by larger beams, bearing walls, girders, etc. A joist is rectangular in cross-section, the narrow face being the joist, the wide face the plank.

JUDGEMENT CREDITOR - person, corporation, etc., that has been awarded a money judgement by a court. Recording and abstract of said judgement will create a lien on real property owned by the judgement debtor in the county where the abstract is recorded.

JUDGEMENT DEBTOR - person, corporation etc., against whom a money judgement has been awarded by a court. Also See: Judgement Creditor.

JUDGMENT (JUDGEMENT) - decision of a court of law. Money judgments, when recorded, become a lien on real property of the defendant.

JUDGMENT LIEN - lien against the property of a judgment debtor. An involuntary lien.

JUDGMENT PROOF - One against whom a judgment creditor cannot collect (no assets). If one can show he was defrauded by a "judgment proof" real estate licensee, he may recover from the state fund in states having such a fund.

JUDICIAL FORECLOSURE - Foreclosure through court action rather than by a power of sale. Judicial foreclosure is sometimes necessary to remove certain tax liens.

JUDICIAL SALE - sale made under court order, by one court appointed, rather than a voluntary sale by the owner, or one appointed by the owner.

JUMBO LOAN - loan greater than the amount allowable for purchase by a federal agency.

JUMBO VA LOAN - loan for an amount greater than the allowable 100% financed amount. It is determined by subtracting the maximum allowable 100% financed amount from the purchase price and financing 75% of the difference. Example: maximum allowable VA Loan - $110,000. Sale price - $130,000. Difference is $20,000;75% of the difference is $15,000. Total jumbo loan - $110,000 plus $15,000=$125,000. Required down payment - $5000.

JUNCTION BOX - metal box used to enclose the meeting (junction) of electrical circuits, wires, and cables.

JUNIOR LIEN - lien which is subordinate to a prior lien.

JUNIOR MORTGAGE - Any mortgage of lesser priority than a first mortgage.

JUNK VALUE - Also See: Salvage Value.

JURAT - (1) certificate of an officer before whom a writing was sworn to, such as a notary public. (2) That part of an affidavit stating where, when, and before whom, the affidavit was sworn.

JURISDICTION - extent of the authority of a court, or other governmental branch or agency.

JUST COMPENSATION - In condemnation the amount paid to the property owner. The theory is that in order to be "just", the property owner should be no richer or poorer than before the taking.

Whatever your financing needs,
we will tailor a loan that's right for you.

 
 
 


Daily Oil & Gas and Wall Street Journal News
3/21/19

Texas Posts 15,000+ Industry Jobs During Jan-Feb
Posted on Wednesday March 20, 2019

From January through February, there were 90,718 total job postings for the Texas oil and natural gas industry, of which 15,375 were unique.

Oil Stays Above $60
Posted on Wednesday March 20, 2019

Oil held above $60 a barrel after the biggest withdrawal of crude in American storage tanks since July raised speculation that global supplies are tightening.

Oil Price Clears $60-mark
Posted on Tuesday March 19, 2019

Both the WTI and Brent contract prices finished the day higher.

Will the US Ever Become Part of OPEC+?
Posted on Wednesday March 20, 2019

Experts weigh in on whether the United States will ever join the OPEC+ group.

McDermott Wins Russia Ethylene Tech Contract
Posted on Tuesday March 19, 2019

McDermott will license a 650-kta ethylene plant.

Equinor Subsea Contract Goes to TechnipFMC
Posted on Tuesday March 19, 2019

The Johan Sverdrup ULQ platform topsides. IMAGE SOURCE: KBR

Alberta Increases Oil Production Limits
Posted on Tuesday March 19, 2019

Alberta's government will allow oil producers to pump more in May and June.

Trump Guides Don't See High Oil Prices as All Bad
Posted on Tuesday March 19, 2019

Higher oil prices may not always be a bad thing for the U.S. economy, according to a White House report.

$264B Needed to Realize UK's Oil and Gas Vision
Posted on Tuesday March 19, 2019

$264 billion will need to be spent by exploration and production companies in existing operations and new opportunities to realize the UK oil and gas industry's Vision 2035.

Oil and Gas Employs Near 350,000 Texans in 2018
Posted on Tuesday March 19, 2019

The oil and natural gas industry employed over 348,000 Texans in 2018, TXOGA reveals.

Wall Street Journal
Commercial News

3/21/19

WSJ.com: Commercial Real Estate

CBRE Global Investors Buys Stake in Three GGP Malls
One of the world?s largest real-estate asset managers has purchased a 49% stake in three malls in a deal that values them at more than $1 billion and shows that investors still have an appetite for top-tier retail property.

FAO Schwarz Is Returning to New York
A dominant presence in Midtown Manhattan for decades before its closure in 2015, the toy store is coming to life again with a new, 20,000-square-foot Rockefeller Center location.

Sportswear-Maker Puma to Open New York Flagship
Germany?s Puma has signed a lease deal to creating a marquee location on Fifth Avenue that will be the first of its kind for the company in North America.

Kushner Cos., Brookfield Near a Deal for Stake in 666 Fifth Ave.
The real estate arm of Brookfield Asset Management is in advanced talks with Kushner Cos. to buy roughly a 50% stake in 666 Fifth Ave. and invest hundreds of millions of dollars in the Manhattan office tower, which has been at the center of a controversy over possible conflicts of interest involving Jared Kushner, President Donald Trump?s son-in-law and adviser.

Sign of the Times: New Office Space Created in Retail's Tumult
Normandy Real Estate Partners? $133 million deal for the upper portion of ABC Carpet?s flagship store is an example of office space edging into territory that once was retail?s domain.

Want to Buy a Luxury Hotel in the U.S.? Try China's Insurance Regulator
When Chinese regulators seized control of Anbang Insurance, they took ownership of more than a dozen luxury U.S. hotels. Now, as the government looks to sell, it faces a problem: The buildings likely are worth less than what Anbang paid only a couple of years ago.

New York's Commercial Property Slump Shows Signs of Slowing
After a two-year plunge, brokers are optimistic that more deals will take place in 2018.

BRE #:00619059
Charles Elfsten, President
Charles A. Elfsten
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