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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
7/18/18

Oil Steadies On US Stockpile Forecasts, Venezuela Worries
Posted on Monday July 16, 2018

Crude oil futures steadied as the focus turned to falling inventories in the US and further output constraints in Venezuela and Libya.

ICE to Launch Permian WTI Crude Oil Futures Contract
Posted on Monday July 16, 2018

The contract is expected to launch in third quarter of 2018 and will have physical delivery in Houston.

Offshore Texas Oil Terminal Could Load Asia-, Europe-bound VLCCs
Posted on Monday July 16, 2018

One VLCC can hold the equivalent of nearly one-fifth of daily US oil production.

Russian Gas Exports Hit a New Summertime Record
Posted on Monday July 16, 2018

Russia's natural gas flows to the European Union rise to a record for the time of year.

Carbon Holdings One Step Closer to Finalize Financing for $10.9B Plant
Posted on Monday July 16, 2018

Carbon Holdings hopes to finalize financing for its $10.9 billion petrochemical plant by the end of the year.

Permian Pipeline Builder to Challenge US Steel Tariff Exemption Rejection
Posted on Monday July 16, 2018

Plains All American Pipeline LP's request for an exemption from steel-import tariffs was rejected by the US government.

IHS Markit Sees Canadian Oil Sands Growth Moderating After 2019
Posted on Monday July 16, 2018

Canadian oil sands production will rise more than half a million barrels per day in 2019.

BSEE's Angelle: SafeOCS Participation Up Dramatically
Posted on Monday July 16, 2018

BSEE releases 2017 stats for SafeOCS data sharing program.

Electricity Investments Surpass Oil, Gas for Second Year Running - IEA
Posted on Monday July 16, 2018

Global electricity investments exceeded those in oil and gas for the second year running in 2017, the International Energy Agency says.

Azeri Oil Fund SOFAZ Reports 9% Rise In Assets To $38.04B
Posted on Monday July 16, 2018

Azerbaijan's state oil fund SOFAZ says its assets rose by more than 9% year on year to $38.04 billion as of July 1.

Wall Street Journal
Commercial News

7/18/18

WSJ.com: Commercial Real Estate

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.

NYC Council Stops Midtown Tower Construction
Work on an 800-foot-tall tower in East Midtown that has been under construction for six months was halted last week following a vote by the New York City Council to limit skyscrapers in the area,.

Malls Never Wanted Gyms. Now They Court Them
Mall owners long treated gyms, massage parlors, and billiards halls as unwanted tenants that attracted lower-rent visitors who were unlikely to shop. Now they?re giving health clubs some of their best real estate.

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