Free Real Estate Vocabulary Flashcards

Pass the real exam by knowing all of the vital real estate vocabulary terms that are crucial to passing the real estate licensing examination. Study all of the important real estate glossary terms and definitions, and pass with confidence!

Judgment

The official and authentic decision of a court on the respective rights and claims of the parties to an action or suit When a …

Judgment (Judgement)

The decision of a court of law Money judgments, when recorded, become a lien on real property of the defendant

Judgment clause

A provision that may be included in notes, leases, and contracts by which the debtor, lessee, or obligor authorizes any attorney to go into …

Judgment Creditor

A person who is owed money as a result of a being awarded a judgment in a lawsuit

Judgment Debtor

A person who owes money as a result of a judgment in a lawsuit

Judgment Lien

A lien against the property of a judgment debtor An involuntary lien

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, …

Judicial Foreclosure

Foreclosure through court action rather than by a power of sale Judicial foreclosure is sometimes necessary to remove certain tax liens

Judicial Opinion

A court’s written statement outlining the facts of a particular case and explaining the legal basis for the decision

Judicial Partition

court action to divide real property among its co-owners so each owns part in severalty, or (if it is not practical to physically divide …

Judicial Review

When a court considers whether a statute or regulation is constitutional

Judicial Sale

A sale made under court order, by one court appointed, rather than a voluntary sale by the owner, or one appointed by the owner