The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.
1 : to convert into money
2 : to obtain or incur (as a gain or loss) esp. as the result of a sale, exchange, or other disposition of an asset [realized a loss when the house was sold] compare recognize
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.