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"Free of encumbrances" refers to a property or asset that is not burdened by any claims, mortgages, liens, or legal restrictions that could affect ownership or use. This means the owner has clear title and can transfer or sell the property without any outstanding obligations or disputes. Essentially, it indicates that the asset is wholly unencumbered and available for the owner's use or sale.
What else can I help you with?
What is a seller's affidavit of title?
A statement, under oath, that the property being conveyed free of defects or encumbrances since the date of issue of title insurance commitment, or in other words, since the seller's acquisition of the property. A seller's affidavit of title does not substitute for a full title examination and doesn't mean that you shouldn't buy an owner's title policy.
What is FOB terms mean?
Free On Board
What does WD mean in real estate?
In real estate, "WD" typically stands for "Warranty Deed." A warranty deed is a legal document that guarantees a property title is clear of any liens or encumbrances, ensuring that the seller has the right to transfer ownership to the buyer. It provides the highest level of protection to the buyer, as it includes warranties from the seller regarding the title's validity.
What does interprising mean?
individuals are free to own and control the factors of production.
Listing price may not be sufficient to cover all encumbrances closing costs or other seller charges and sale of property at full listing price may be conditioned upon approval of third parties?
It's short sale property listing.
What does no restrictions or provisions mean on deeds?
That means the land is transferred free of encumbrances or additional rights that inure to the property. However, encumbrances are not always mentioned in deeds. That is the reason why every purchaser should arrange to have the title examined to determine if any encumbrances were mentioned in prior deeds.
What does the word unencumbered mean?
The word means unhindered, free to act, not impeded or burdened. There are no "encumbrances" (literally weights, loads) that impede or prevent an action. This is often metaphorical, as in someone unencumbered by financial problems or unencumbered by legal or moral considerations.
The deed states the Grantor will warrant and forever defend the right and title to the above described property unto the said Grantee against the claims of all persons whomsoever. What does it mean?
That is the legal language that constitutes a warranty deed. The deed expressly guarantees the grantor's good and clear title free from encumbrances not listed in the deed. The grantor covenants they will defend the title from all claims.That is the legal language that constitutes a warranty deed. The deed expressly guarantees the grantor's good and clear title free from encumbrances not listed in the deed. The grantor covenants they will defend the title from all claims.That is the legal language that constitutes a warranty deed. The deed expressly guarantees the grantor's good and clear title free from encumbrances not listed in the deed. The grantor covenants they will defend the title from all claims.That is the legal language that constitutes a warranty deed. The deed expressly guarantees the grantor's good and clear title free from encumbrances not listed in the deed. The grantor covenants they will defend the title from all claims.
Where on a balance sheet is Reserve for Encumbrances?
Assets
can you help me with govt accountant and encumbrances?
yuh
3 Upon closing the books at year-end a government should a. Debit fund balance and credit reserve for encumbrances c. Debit fund balance and credit encumbrances.?
Debit fund balance and credit encumrances because the reserve for encumbrances need not be closed because it is a balance sheet account.
What is clean bill?
If you mean a Clean Bill of Lading it is a document (or series of documents) that have no leins, restrictions or other encumbrances which would deny throughput entry into a foreign port of entry.
Are the common areas included in condominium title search?
Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.
What does 'as owner thereof in fee simple subject to such of the encumbrances mentioned in Section 44 of said Decree as may be subsisting' means in a land title?
It means that the person named has been determined to be the absolute owner of the described land and you must review Section 44 of a court decree where you will find the mentioned encumbrances. Those encumbrances may affect the land if they are still in force and applicable to that land.
What is unencumbered clause in a lease?
An unencumbered clause in a lease refers to a provision that ensures the leased property is free from any liens, claims, or encumbrances that could affect the tenant's use and enjoyment of the property. This clause protects the tenant by guaranteeing that they will not face any legal issues or financial obligations related to the property beyond their lease agreement. If any encumbrances arise, the landlord is typically responsible for resolving them to maintain the tenant's rights.
What is a covenant against encumbrances?
A covenant against encumbrances is a provision in a real estate contract or deed in which the seller guarantees that the property is free from any liens, claims, or other legal liabilities that could hinder its use or transfer. This means the seller asserts that there are no outstanding debts or obligations tied to the property, ensuring the buyer receives clear title. If an encumbrance is later discovered, the seller may be held liable for breaches of this covenant.
What is a seller's affidavit of title?
A statement, under oath, that the property being conveyed free of defects or encumbrances since the date of issue of title insurance commitment, or in other words, since the seller's acquisition of the property. A seller's affidavit of title does not substitute for a full title examination and doesn't mean that you shouldn't buy an owner's title policy.
