Unencumbered

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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in classic literature ?
My letter was as short as I could possibly make it, and was, I hope, unencumbered by needless apologies and needless details.
The company said the objuectives of the term loan allow it to: align sources and uses as the term loan includes a delayed draw feature which allows it to request up to three separate draws over the next 8 months; unencumbers one of the portfolio's largest assets, City Center in White Plains, New York; provides the majority of the funding for about USD130m of 2016 securitised debt maturities with an average interest rate of 5.9%; continues to manage floating rate debt exposure as it plans to hedge all or a portion of the term loan; leaves only USD100m of securitised debt maturities until 2020; and increases the value of the unencumbered pool by about USD323m to a total of over USD2bn.