Judgment means the capability of taking properly thought-out, examined, and considered steps, decisions, or conclusions. It may also be viewed as a mandate or punishment.
The definitions of judgment may include the following:
1. The procedure of creating opinions or evaluations through the comparison and evaluation of scenarios/circumstances.
2. An estimation or opinion.
3. Any capacity to judge and issue statements.
4. An obligation, mandate, or directive.
5. Believing or asserting something in a pronounced manner.
In the real estate sector, the use of judgment is interesting. This is usually in the form of a judgment lien which is a ruling by the Court. This gives legal rights to creditors to occupy or take possession of the property of the debtor. This happens only in cases where the debtor has failed to honor or fulfill his/her obligations as per the contract. The liens are not consensual, since they are tied to property without the agreement/consent of the property owner. There is a fiscal judgment which works as the lien for the property of the debtor and all the property that he/she has already transferred for avoiding creditors.
