Unencumbered


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Related to Unencumbered: unencumbered property

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.

unencumbered

Of or relating to an owned asset that does not have a claim against it. Real estate not being used as collateral for a loan and on which all taxes are current is unencumbered. Compare encumbrance.
References in periodicals archive ?
It said that the proffered distinction made no economic sense: if an employer made a contribution of unencumbered, noncash property in a year prior to the year in which its minimum funding obligation arose, it would not run afoul of the prohibited transaction rules, whereas a violation would occur if the employer made the identical contribution a year later.
This repaid loan, which would otherwise mature in 2013, was secured by five properties, of which one property now secures the new loan and four are now unencumbered.
Conversely, a transfer of unencumbered property to a welfare benefit plan that does not relieve the employer or sponsor of any present or future obligation to make a contribution measured in terms of cash amounts would not constitute a prohibited transaction.
25%) decreases to 60% from 65%, the unencumbered asset coverage test increases to 1.
4975(f)(3) to mean that voluntary contributions of property will be prohibited transactions if the plan assumes any liens on the contributed property, while voluntary contributions of unencumbered property will not be a prohibited transaction.
This diversified unencumbered pool covered unsecured debt by 3.
Justice Stevens took a contrary view and concluded that the phrase "sale or exchange" should not be given the same meaning for all purposes, and accordingly, a transfer of unencumbered property should not be prohibited.
Key Fitch credit concerns include the possibility of HR increasing its utilization of secured debt, which although it provides additional liquidity, would decrease the size of the unencumbered asset pool and reduce financial flexibility - both of which will negatively impact unsecured creditors.
The rating reflects the depth and experience of NNN's management team, resources available through the CNL Group, improving quality of the portfolio, large base of unencumbered assets (75% of the portfolio), prudent financial policies, diligent review, surveillance, and management of tenants and related concentrations, and a sound Fitch IBCA adjusted unencumbered debt service coverage ratio.
1992), aff'g TC Memo 1990-628, that a contribution of unencumbered property by an employer to a defined benefit pension plan in satisfaction of the employer's minimum funding obligation constituted a prohibited sale or exchange under Sec.
The affirmations evidence the quality of REG's retail shopping center portfolio, the extent to which REG covers its fixed charges, sizeable unencumbered asset pool and its solid, albeit slowing operating property fundamentals.
5%, and the application of the recent common stock offering which netted approximately $424 million, SPK's unencumbered portfolio value is approximately $2.