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Unencumbered |
Also found in: Dictionary/thesaurus, Legal | 0.01 sec. |
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Unencumbered Property that is not subject to any claims by creditors. For example, securities bought with cash instead of on margin and homes with mortgages paid off. Unencumbered Describing the title of a property where there are no competing claims, liens, or anything else that would hinder its transfer. That is, if a property has undisputed ownership, its owner is said to be unencumbered. An owner with unencumbered property may sell the property without any legal difficulties. Generally speaking, a real estate broker researches a property to ensure that there are no competing claims. See also: Quitclaim Deed, Clear Title, Title Search.
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