Legal Definitions - judicial mortgage

A judicial mortgage is a type of mortgage that is created by a recorded legal judgment. It is a lien against property that is granted to secure an obligation, such as a debt, and is extinguished upon payment or performance according to stipulated terms.

For example, if a person owes money to a creditor and fails to pay, the creditor can obtain a judgment against the person. The judgment can then be recorded as a judicial mortgage against the person's property, giving the creditor a security interest in the property. If the person pays the debt, the judicial mortgage will be released.

Another example is when a court orders a property to be sold to satisfy a debt owed by the owner. The court can record a judicial mortgage against the property to ensure that the debt is paid from the proceeds of the sale.

In summary, a judicial mortgage is a type of mortgage that is created by a legal judgment and is used to secure an obligation. It is an important tool for creditors to ensure that they are paid what they are owed.