Real Estate Glossary

Virgil Llewellyn
Principal Broker/Owner
Gold Coast Properties, Inc.
125 Baltimore Ave SE Suite A
Bandon, OR 97411
PO BOX: 416
Phone: (541) 297-7071
Office: (541) 347-4533 ext. 3
FAX: (541) 347-5055
Cell: (541) 297-7071
info@bandonrealestate.com

OREGON REAL ESTATE
AGENCY
DISCLOSURE PAMPHLET

Oregon Buyers Advisory

Total dollar amount properties available as of Mar 7, 2010
$12,599,927,657

REAL ESTATE GLOSSARY

joint tenancy

A way for two or more people to share ownership of real estate or other property. When two or more people own property as joint tenants and one owner dies, the other owners automatically own the deceased owner's share. For example, if a parent and child own a house as joint tenants and the parent dies, the child automatically becomes full owner. Because of this right of survivorship, no will is required to transfer the property; it goes directly to the surviving joint tenants without the delay and costs of probate. Contrast with tenancy in common.

judgment

The official and authentic decision of a court of justice concerning the respective rights and claims of the parties to an action or suit