The definition for Judgment Proof:
One against whom a judgment creditor cannot collect (no assets). If one can show he was defrauded by a "judgment proof" real estate licensee, he may recover from the state fund in states having such a fund,
Abstract Of JudgmentAbstract Of Judgment
A summary of the essential provisions of a court judgment, which when recorded in the county recorder's office, creates a lien upon the property of the defendant in that county, both presently owned or after acquired.
Deficiency JudgmentDeficiency Judgment
Commonly the amount for which the borrower is personally liable on a note and mortgage if the foreclosure sale does not bring enough to cover the debt. Actually the judgment is for the total amount and not for the deficiency, the recovery from the foreclosure sale being deducted from this amount.
Judgment (judgement)Judgment (judgement)
The decision of a court of law. Money judgments, when recorded, become a lien on real property of the defendant.
Further Suggestions Judgment Lien
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