encumbrance


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Encumbrance

A burden, obstruction, or impediment on property that lessens its value or makes it less marketable. An encumbrance (also spelled incumbrance) is any right or interest that exists in someone other than the owner of an estate and that restricts or impairs the transfer of the estate or lowers its value. This might include an Easement, a lien, a mortgage, a mechanic's lien, or accrued and unpaid taxes.

encumbrance (incumbrance)

n. a general term for any claim or lien on a parcel of real property. These include: mortgages, deeds of trust, recorded abstracts of judgment, unpaid real property taxes, tax liens, mechanic's liens, easements, and water or timber rights. While the owner has title, any encumbrance is usually on record (with the County Recorder or Recorder of Deeds) and must be paid for at some point.

encumbrance

noun burden, charge, claim, curb, difficulty, disadvantage, drawback, hampering, hindering, hindrance, hitch, hurdle, impediment, impedimentum, inconvenience, infliction, interference, liability, lien, lien on an estate, load, mortgage, obstacle, onus, oppression, pressure, restriction, retardation, stay, stop, stoppage
Associated concepts: easements, mortgage
Foreign phrases: Transit terra cum onere.Land passes subject to any encumbrances affecting it.
See also: accountability, barrier, burden, charge, constraint, damper, debt, disadvantage, fetter, handicap, hindrance, impediment, imposition, liability, lien, mortgage, onus, pressure, responsibility, restriction, weight

encumbrance

a burden that affects land, such as a mortgage.

ENCUMBRANCE. A burden or charge upon an estate or property, so that it cannot be disposed of without being subject to it. A mortgage, a lien for taxes, are examples of encumbrances.
     2. These do not affect the possession of the grantee, and may be removed or extinguished by a definite pecuniary value. See 2 Greenl. R. 22; 5 Greenl. R. 94.
     3. There are encumbrances of another kind which cannot be so removed, such as easements for example, a highway, or a preexisting right to take water from, the land. Strictly speaking, however, these are not encumbrances, but appurtenances to estates in other lands, or in the language of the civil law, servitudes. (q.v.) 5 Conn. R. 497; 10 Conn. R. 422 15 John. R. 483; and see 8 Pick. R. 349; 2 Wheat. R. 45. See 15 Verm. R. 683; l Metc. 480; 9 Metc. 462; 1 App. R. 313; 4 Ala. 21; 4 Humph. 99; 18 Pick. 403; 1 Ala. 645; 22 Pick. 447; 11 Gill & John. 472.

References in periodicals archive ?
That the offender knew that the real property was encumbered, whether the encumbrance is recorded or not.
Lagged disclosure can help market participants understand trends in encumbrance but they are of limited value understanding the current financial position of an organisation.
release it of encumbrance. Baghdasarov said that if there were a buyer, SCA would have released it of encumbrance long ago.
"One of the issues the agencies have high - lighted is a high level of asset encumbrance, and that's largely been driven by the fact that we've used securitization as a means to cost - effectively fund our business over the last three or four years," says Dave Webb, director of financial strategy for Ford Credit.
Vast Exploration Inc(TSX VENTURE:VST), an independent oil and gas company, has entered into an Encumbrance for Financing Agreement with Nikoresources (Kurdistan) Ltd.
Over the last ten years there has been a tendency by the city council to treat the museums as an encumbrance. Regardless of the political party involved, the museums face attack.
The Oscar winner, who has been married to American film director Taylor Hackford for 13 years, says she is happier 'without encumbrance'.
The 2009 order also made some oblique references to problems with Gibraltar's previous operations, including "that surety bonds were previously issued by Gibraltar without the appropriate authority" and "that one (1) or more financial statements were filed with the Department inaccurately showing no encumbrance on the Packet House," the historic mansion at 1406 Cantrell Road in Little Rock that is home to Gibraltar.
Which word meaning a burden or an encumbrance is also the name of a species of seabird?
As a general rule, if a property interest passing to a surviving spouse is subject to an encumbrance, only the value of the property interest in excess of the amount of the encumbrance will qualify for the marital deduction.
Field data are collected on the sale properties relative to proximity to and visibility of transmission line towers, and the extent of encumbrance by a transmission line easement.
WE must throw off every encumbrance, every sin to which we cling, and run with resolution the race for which we are entered.