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Like any industry, real estate has its own jargon. Some of the terms are peculiar to the Philippines. And a lot of the words may be already familiar to you, but will have a slightly different meaning or emphasis when used by real estate professionals.
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JOINT NOTE A note signed by two or more persons who have equal liability for payment.
JOINT TENANCY Ownership by two or more persons with each having equal rights, owning equal interests and having the automatic right to assume full title upon the death of the other joint owners.
JUDGMENT The final determination of a court of competent jurisdiction of a matter presented to it; A court order establishing the rights or indebtedness of one person to another, as a result of a legal action or suit.
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