Encumbered


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Encumbered

A property owned by one party on which a second party reserves the right to make a valid claim, e.g., a bank's holding of a home mortgage encumbers property.

Encumbered

Describing securities or assets that are subject to one or more liens. That is, encumbered securities belong to one person or entity but are subject to a claim by another. Encumbered securities or assets may not be sold until the lien or debt on them is satisfied. One of the most common encumbered assets is a house with a mortgage. A homeowner may not sell the house until the mortgage is paid off (though, in practice, the proceeds from the sale of the house pay off the mortgage).
References in periodicals archive ?
According to a court-appointed examiner's report, about USD39bn of Lehman Brothers Holding's USD41bn cash pool was encumbered a day before it went bankrupt.
The selling agent expressed that the location of the encumbered lots are in an area of the subdivision which otherwise is desirable; she also stated that the encumbered lots were very difficult to sell, generally spent more time on the market, and sold for significantly less than unencumbered lots.
However, from a practical perspective, market data concerning whether a property has been encumbered by a facade preservation easement is not readily available.
We simply cannot afford to continue to be encumbered by high legacy issues and burdensome restrictions under current labor agreements that impair our ability to compete.
Congress could allow a recipient of encumbered property to recover from the other recipients of a decedent's assets the income tax liability attributable to the difference between the encumbrance and the encumbered property's carryover basis, to the extent that the liability exceeds the recipient's equity in the asset at the time of sale or other disposition.
If the title shows that the landlord has encumbered its fee interest, the tenant should obtain a non-disturbance agreement from the senior lienholder.
The newly formed corporation, Seggerman Farms, received numerous farming assets from the three taxpayers, some encumbered by debt.
SANTA CLARITA - The state has approved more than $37 million for the proposed Golden Valley High School, the encumbered project that will be the first new high school in decades and serve the eastern and southern areas of the Hart district.
The people caught on the pages of Fences are recognizable, human and encumbered by insecurities and fears that make them behave in cruel, selfish ways (Datcher included).
Encumbered by old software, our new computers protested with hourly crashes, USB ports were incompatible with old peripherals, and network access mysteriously came and went--periodically taking with it our ability to print, receive and send e-mail, and, yes, backup our files.
Peracchi contributed two parcels of real estate that were encumbered by liabilities that exceeded his adjusted basis in the properties by $566,807.