Definition of "Judgment"
- A judicial ruling in which the rights and claims of the parties have been considered.
- A final ruling on some aspect formed after all the facts have been taken into account.
- In Real Estate, a court order placing a financial indebtedness on another to pay for a claim. For example. John does not meet his rental obligations to Brian. The court issues a judgment against John brought by Brian.
Popular Real Estate Terms
Not sure about something such as suspecting the truthfulness of statements made by a real estate agent. Stipulation in a deed giving the grantor some retained privilege or right in the ...
Loan in which two or more lenders participate in the total financing of a single mortgage. The lenders in a piggyback loan do not necessarily have equal shares. ...
A strong piece of lumber at least two-by-four. It is used for studs and beams to hold a building or structure up. The structure is in effect, attached to, or built onto the structural ...
The addendum definition is an attachment, clause, or section added to an agreement or contract specifying additional terms, conditions, or requirements to the original agreement or ...
See estoppel. ...
As a legal term, abandonment defines a deliberate renunciation of rights to an asset or a business relationship. What does abandonment mean in real estate? In real estate, abandonment, ...
Net operating income (NOI) of property relative to its market value. If rental income property worth $1,000,000 results in NOI of $100,000, the overall return is 10%. NOI compared to ...
The definition of abatement is a reduction of penalties or a tax deduction for individuals or businesses. It can often be accessed upon an overpayment of taxes, if the company or individual ...
Also called interim financing. A mortgage that provides the funds necessary for the building or construction of a real estate project. The project can be a residential subdivision, a ...
Have a question or comment?
We're here to help.