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north carolina real estate glossary

NC Charlotte Homes & Carolina Real Estate Glossary J
From Joint Venture, Just Compensation to Just Debts

Return to the Real Estate Glossary

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.

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.

Just debts - A legal, valid and incontestable obligation, not including such as are barred by the statute of limitations or voidable at the election of the party to which it is owed.

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