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(A) Finance: The amount of a debt that remains after the security for the loan has been sold and does not cover the entire balance of the loan. (B) Tax: The amount that the IRS determines is owed that is in excess of what the taxpayer filed as owed. Law Dictionary - Alternative Legal Definition A lack, shortage, or insufficiency. The difference between the total amount of the … [Read more...] about DEFICIENCY

One who wrongfully keeps the owner of lands and tenements out of the possession of them. 2 BL Comm. 350. … [Read more...] about DEFORCIANT

When a security (such as a home or automobile) is sold to cover the amount due a loan but does not cover the entire balance, a deficiency remains. The creditor owed that deficiency may sue for that amount and obtain a judgment called a deficiency judgment. … [Read more...] about DEFICIENCY JUDGMENT

To withhold lands or tenements from the right owner. This is a word of art which cannot be supplied by any other word. … [Read more...] about DEFORCIARE

This Latin term signifies that something is wanting. It is used to express the deficiency which is discovered in the accounts of an accountant, or in the money in which he has received. Something wanting, generally in the accounts of one intrusted with money, or in the money received by him. … [Read more...] about DEFICIT