Mortgage glossary - J

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

Mortgage terms defined on this page:

• Joint Tenants

Joint Tenants

If a property is owned by two or more people, they are co-owners or joint tenants. Each is entitled to a share of the money raised from selling it. If one dies, ownership automatically passes to the survivor/s.
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THINK CAREFULLY BEFORE SECURING ANY DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.