Definition of "Judgment"

Josh Dunn real estate agent

Written by

Josh Dunnelite badge icon

RE/MAX America's Top Realty

  1. A judicial ruling in which the rights and claims of the parties have been considered.
  2. A final ruling on some aspect formed after all the facts have been taken into account.
  3. 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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Said of property that is bought subject to the existing loan against it. ...

The Women’s Council of REALTORS® is one of the affiliate organizations of the National Association of REALTORS® (NAR). This nonprofit organization is a network of successful ...

A narrow passageway between buildings providing secondary rear access. ...

Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...

Federal act passed in 1974 regulating mobile homes. The act defines a mobile home as a "Structure, transportable in one or more sections, which is eight body feet or more in width and is ...

Agreement between two or more individuals whereby each party agrees to do or not to do some act. The parties have reciprocal obligations of performance or actions. ...

Scarcity is a fundamental term in economics, mirroring the limited resources and needs gap. The shortage demands consumers to make logical decisions on spending their money efficiently. ...

Name given by the Realtors National Marketing Institute which is affiliated with the National Association of Realtors. ...

Title deficiency that prevents a seller from successfully transferring property to a buyer. A title company may discover a title defect ( due to encumbrances against the property or failure ...

Popular Real Estate Questions