Bear Island Land Co., Inc.

~Your Recreational Real Estate Professionals~

Dictionary of Terms

~J~

 

Joint Tenancy
A type of co-ownership of real property, held by two or more persons, with all co-owners being equally entitled to the use, enjoyment, control and possession of the land and with the right of survivorship.
Jumbo Loan
A loan which is larger than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate.

 

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Ely, Minnesota's most experienced Realtors, serving Buyers and Sellers in the Ely, MN area since 1995.