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Glossary J
From Joint Venture to Judicial Lien

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Joint venture - An investment entity formed under contract by two or more parties to pursue a specific business opportunity, such as purchase or develop and manage real property and/or other assets, and share in the profits or losses of the venture.

Judicial lien - An interest in real property gained from a judicial proceeding, usually received in the form of a winning party to a judgment receiving a court order.

Just compensation - Compensation which is fair to both the owner of private property and the public when the property is "condemned" for public use through eminent domain. Taken into consideration is the cost of reproducing the property, its fair market value and any resulting damage to the owner's remaining property.


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