NATIONAL HOMEOWNERS COLLEGE

A formal description of real property sufficient to locate it by reference to government surveys or approved recorded maps.

A person who lends money for temporary use on condition of repayment with interest (i.e., the bank, mortgage company, etc.).

A charge upon real or personal property for the satisfaction of a debt.

A recorded notice of pending lawsuit

The word " litigation" refers to a lawsuit in court before a judge and/or jury. Litigation is used by people, companies and organizations to resolve disputes. The term "litigation" helps in distinguishing civil lawsuits from arbitrations, mediations and other dispute resolutions.