A final determination of the rights of parties to a lawsuit. A “deficiency judgment” is a judgment in favor of a secured creditor for the balance of a debt that is not satisfied in-full by the sale of the proffered security. A “money judgment” is a judgment in which one party is ordered to pay a sum of money to another. Recordation of a transcript of judgment will create a non-consensual lien against any and all real property owned by the adjudged party and located in the county in which the transcript is recorded. See lien.

Not what you're looking for?

Check out other glossary terms or Send us a Message and we're happy to answer your questions!