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).
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References in periodicals archive ?
1992)], stated the rule as follows: "Funds are encumbered only where the taxpayer is legally obligated to use the funds for a purpose other than satisfying the preexisting employment tax liability and if that legal obligation is superior to the interest of the IRS in the funds.
The trust fund recovery penalty and encumbered funds: no easy way out
Lehman Brothers Holdings started using encumbered assets to bolster cash in June 2008, when Citigroup, Inc asked for a USD2bn deposit against trades it was settling and clearing for the company.
Lehman's cash pool was encumbered before bankruptcy
Thus, a taxpayer can avoid gain recognition when he or she transfers property encumbered by liabilities in excess of basis to a controlled corporation.
Loan guaranties and tax-free transfers to controlled corporations
In an attempt to mitigate the gain recognition, Peracchi transferred to NAC, in addition to the encumbered properties, a personal note with a face amount of $1,060,000.
Tax planning under section 357(c): Peracchi and creating something out of nothing
54]), the Court's refusal to permit an Orthodox Jew to wear his yarmulke in the military was also wrong, since it failed to take account of the Jew's encumbered self.
Democracy's Discontent: America in Search of a Public Philosophy
Last year's earnings were encumbered by MSEK 26 in restructuring costs.
Haldex: Annual Report 2006
The Xl-100 is said to be designed for the researcher who is interested in getting fast, repeatable data from an instrument that is not encumbered by unneeded levels of complication.
Optical profiler
This transaction enables us to reduce both our interest costs and the number of our encumbered assets, thereby enhancing our Company's capital structure," commented Barry Lefkowitz, executive vice president and chief financial officer.
Mack-Cali refinances $150m loan to reduce interest costs
Example: B has a $40,000 adjusted basis in real property X, which has a $100,000 fair market value (FMV) and is encumbered by a $30,000 mortgage.
Partnership's like-kind exchange dilemma?
The most common of these transactions are gifts of encumbered property, net gifts and gifts of stock options.
Income tax consequences of certain gift transactions: some transfers may result in income or gain to the donor
5 million in encumbered costs is distributed among 21 parties and includes $350,000 approved by the school board for the Belmont Commission's review.
BELMONT PRICE UP $33 MILLION
Bob Bellamy is what most choreographers must fear: He's overweight and insecure and his dancing is encumbered by his body; but he is honest and strong, he does his work, and breaks your heart every time.
Scott, Queen of Marys

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