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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Abstract of Judgement


Synonyms:claim, legal document, statement, summary
Filed Under: legal-contracts
Tags: contract, legal
 

Definition of abstract of judgement

abstract of judgement
1. An "abstract" is a summary or statement of the contents within a document.
2. When a judgement is made in a lawsuit, a court document is drafted that states how much the person who lost the lawsuit owes. This document can create a lien or a claim on property when it is filed with the country recorder where the property is owned.

Related Terms and Acronyms:

  • claim   A creditor's assertion of a right to payment from a debtor or the debtor's property.
  • defendant   The accused party in a lawsuit or criminal trial.
  • insurance attorney   An attorney who works with insurance law.
  • judgement   A determination by a court of law or a judicial decision.
  • legal description (lgdc)   A way of identifying a piece of property in writing that is acceptable to a court.
  • lien   A legal hold or claim of a creditor on the property of another.
  • plaintiff   The party who initiates a lawsuit.
  • settlement   An agreement between the parties of a legal case.
  • settlement statement   A document that details who has paid how much to whom.

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