-NeeBo Glossary-

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  • Joint-and-Last Survivor Annuity A type of annuity where income is payable during the lifetimes of two or more annuitants and continues until the death of the last survivor.

  • Joint-and-Last-Survivorship Option When paying out the proceeds of an insurance policy, payments continue until the death of the last survivor of two persons.

  • Junior Mortgage A lien that is below that of another mortgage. The holder of a junior mortgage can usually be satisfied only after a more senior lender is paid off. Thus, the interest rate on a junior mortgage is usually higher.

  • Joint Venture Two or more businesses that have joined together under a contractual agreement to conduct a business enterprise with both parties sharing profits and losses. The venture is for one specific project only, rather than for a continuing strategic alliance.

  • Joint Petition A bankruptcy petition that is filed together by a husband and wife.

  • Joint account Agreement between two or more firms to share risk and financing responsibility in purchasing or underwriting securities, or an account owned jointly by two or more persons at a bank or brokerage house.

  • Joint and survivor annuity Type of annuity opened by and intended for two people, that makes payments for the entire lifetime of both beneficiaries, even if one of them dies.

  • Joint tenants with right of survivorship In the case of a joint account, on the death of one account holder, ownership of the account assets is transferred to the remaining account holder or holders.

  • Joint venture An agreement between two or more firms to undertake the same business strategy and plan of action.

  • Jumbo certificate of deposit - A certificate of deposit in increments of 0,000.

  • Jumbo loan Loans of billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies.

  • Just-in-time inventory systems Systems that schedule materials to arrive exactly when they are needed in the production process.

  • Just-in-time inventory systems Systems that schedule materials to arrive exactly when they are needed in the production process.


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