Dictionary

Definition:  The fair market value of something. Pronunciation:   \ˈjəst, ˈjüst\ \ˈval-(ˌ)yü\ Used in a Sentence:   The seller wanted to get just value for his property.

Definition:   A mortgage, such as a second mortgage, that is subordinate in right or lien priority to an existing mortgage on the same real property. Pronunciation:   \ˈjün-yər\ \ˈmȯr-gij\ Used in a Sentence:   The second mortgage on the property is considered a junior mortgage.

Definition:   Priority based on the date of recording in the public records. Pronunciation:   \ˈjün-yər\\ˈlēn, ˈlē-ən\ Used in a Sentence:   The IRS lean was considered a junior lean against the property because it was filed after the mortgage lien.

Definition:   The power of a court to reexamine statutes or administrative acts and to determine their validity; an appeal to a higher court. Pronunciation:   \jü-ˈdi-shəl\\ri-ˈvyü\ Used in a Sentence:   The DBPR is authorized to seek judicial review of any final order issued by the Commission.

Definition:   The formal decision of a court that not only declares that one party owes another party a debt but also determines the debt amount. Pronunciation:  \ˈjəj-mənt\ Used in a Sentence:   A final judgement against the licensee was entered in circuit court.

Definition:    The joining of two or more people in a specific business enterprise, such as the development of a shopping center or condominium project. Pronunciation:  \ˈjȯint\ \ˈven(t)-shər\ Used in a Sentence:   The developers entered into a joint venture to build the shopping center.

Definition:   An estate or interest owned by two or more persons, all owning equal shares with right of survivorship. Pronunciation:   \ˈjȯint\ \ˈte-nən(t)-sē\ Used in a Sentence:   The three brothers entered into a joint tenancy in the ownership of their property.