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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
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50% - Moderately
50% - Moderately
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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