deficiency judgment

A judgment against a debtor for the unpaid balance of the debt if a foreclosure sale or a sale of repossessed personal property fails to yield the full amount of the debt due.

— Also termed deficiency decree. [Cases: Mortgages 375, 559; Secured Transactions 240. C.J.S. Mortgages §§ 674–676, 933; Secured Transactions §§ 164–166, 168–169, 172, 174–175, 180–183.]

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词条贡献者

法律翻译David，毕业于美国顶尖的高级翻译学院，专注翻译各类与电子证据开示与文件保全有关的法律文件。