encumber

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encumber

To place a burden or a charge upon property.Commonly used to mean placing a mortgage, but may include other liens, easements, covenants, and restrictions. The burden is called an encumbrance.

References in periodicals archive ?
Houlihan of Houlihan-Parnes Realtors, LLC has arranged a loan secured by a 1st mortgage in the amount of $1,000,000 encumbering of a 6,500 sf property improved with a one-story brick taxpayer containing five stores that total 5,335 sf plus basements located at 3600-3614 White Plains Road in the Gun Hill section of the Bronx, NY.
The adjusted basis of the property to be transferred to NAC was $981,406, but the liabilities encumbering the property totaled $1,548,213.
The placement of three first mortgage loans in the aggregate amount of $3,000,000 encumbering properties improved with three one-story retail buildings located at 134-38 West Fordham Road, 26-30 West Kingsbridge Road and 1735-39 University Avenue in the Fordham neighborhood of the West Bronx.
The denominator is the excess of the property's FMV over any qualified liability encumbering or property allocable to the property.
Post, through a Section 1031 exchange intermediary, sold the community for a gross sales price of approximately $118 million, including approximately $40 million of secured debt encumbering the property.
During the contract period the purchaser was able to get approval by the existing lender to assume the securitized mortgage encumbering the property.