Deficiency Judgment
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Definition
A deficiency judgment is a legal ruling issued by a court when the proceeds from the sale of a foreclosed property are insufficient to cover the outstanding debt owed by the borrower to the lender. This judgment allows the lender to pursue the borrower for the remaining balance of the debt after the sale of the property.
Class Relationships
Parent(s)
- • Judgment
Is Defined By
N/A
See Also
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Children 0
- • None
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Additional Information
Metadata
Comment
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Description
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Notes
- • None
Editorial Information
History Note
None
Editorial Note
None
Identifier
N/A
Deprecated
No
Source and Origin
No source or origin information available