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 ?
A: No, paragraph 2 of Article 316 does not prohibit the sale of an encumbered property.
706.02(1)(f), regardless of her current interest in the homestead property encumbered by that mortgage, because she has a present interest in showing that the mortgage was void ab initio; (2) the Mader mortgage is void in its entirety because it was a single conveyance that failed to satisfy 706.02(1)(f); and (3) the Mader mortgage may not be equitably reformed.
Responsible persons who are assessed a trust fund recovery penalty will frequently assert that the company's funds were and are encumbered, so that no penalty is owed.
competition, consumers and innovation." The FTC went on, "Simply put, we are concerned that a patentee can make a RAND commitment as part of the standard setting process, and then seek an exclusion order for infringement of the RAND encumbered SEP as a way of securing royalties that may be inconsistent with that RAND commitment." (84)
ISNAP runs quarterly INSPECT reports on all nurses with encumbered licenses.
Indicate in the agreement that the stock cannot be encumbered, e.g., used as collateral for a loan.
I want them to be free, not encumbered with my junk" Actor Brad Pitt, below "No matter how good you are in a movie, you'll never be any better.
A report by research firm O'Donnell & Associates, LLC shows that the flow of digital content in the academic world is encumbered by a lack of standards and the decentralization of decision-making power.
A small point, but if I am eating at a nice venue I like to be relieved of my coat at the outset, preferably but not essential, by a member of staff and not encumbered with it behind me throughout my meal.
Global Banking News-19 March 2010-Lehman's cash pool was encumbered before bankruptcy(C)2010 ENPublishing - http://www.enpublishing.co.uk
It was intended to be a more effective weapon than the .45 automatic pistol for weapons crews, radiomen, etc., who were encumbered enough without carrying a full-sized rifle....
PREDICTABLY rusty in their first outing since the week before Christmas, Southam were further encumbered by having to play into the teeth of the wind in the first half.