Abstract of Judgment A written summary of a judgment which states how much money a court awards to a party from a losing defendant. The abstract of judgment is part of the public record and creates a lien or claim on any real estate property owned or later acquired by the defendant. These must be paid or settled before title can be insured.
Affidavit A written statement of facts, sworn to be true and normally signed in front of a notary public.
Appraisal A written opinion of value, used to justify the price paid for a property. Residential real estate value are primarily based on an analysis of comparable sales of similar homes nearby.
Appraised Value An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property.
Average Price An average price is a representative measure of a range of prices that is calculated by taking the sum of the values and dividing it by the number of prices being examined.
Bill of Sale A written document that transfers title to personal property. For example, when selling an automobile to acquire funds which will be used as a source of down payment or for closing costs, the lender will usually require the bill of sale (in addition to other items) to help document this source of funds.