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Definition for

Judgment

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.

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