Question: What Does Incumbrance Mean?

How do you use encumbrance in a sentence?

Encumbrance in a Sentence 🔉If it weren’t for the encumbrance of procrastination, I would be a productivity machine.

Although she had expected her little brother to be an encumbrance when her friends came over, she was pleased to see that they all enjoyed playing with him.More items….

What does cumbersome mean?

1 : unwieldy because of heaviness and bulk a cumbersome package. 2 : slow-moving : ponderous cumbersome administrative procedures. 3 dialect : burdensome, troublesome.

What does free from encumbrances mean?

Freedom from encumbrance refers to the freedom of property from the binding rights of parties other than the owner. In contracts for the sale of goods, there is an implied warranty that the goods are free from any encumbrance.

What is impediment mean?

1 : something that impedes especially : an impairment (such as a stutter or a lisp) that interferes with the proper articulation of speech. 2 : a bar or hindrance (such as lack of sufficient age) to a lawful marriage.

What does the right to encumber mean?

An encumbrance is a right to, interest in, or legal liability on property that does not prohibit passing title to the property but that may diminish its value. Encumbrances can be classified in several ways. They may be financial (for example, liens) or non-financial (for example, easements, private restrictions).

How do you cancel an annotation in land title?

Upon the filing thereof, the Register of Deeds shall make the appropriate memorandum on the certificate of title canceling the annotation on the mortgage (Section 62, PD No. 1529).

What do encumbrances mean?

An encumbrance is a claim against a property by a party that is not the owner. … The most common types of encumbrance apply to real estate; these include mortgages, easements, and property tax liens. Not all forms of encumbrance are financial, easements being an example of non-financial encumbrances.

How do you spell Incumbrances?

Nouna charge against property (as a lien or mortgage)an onerous or difficult concern.any obstruction that impedes or is burdensome.

What is another word for encumbrance?

In this page you can discover 23 synonyms, antonyms, idiomatic expressions, and related words for encumbrance, like: burden, hindrance, impediment, difficulty, impedimental, complication, debt, embarrassment, handicap, incubus and obstacle.

Are all liens encumbrances?

A lien represents a monetary claim levied against property to secure payment—the settlement of an obligation from the property owner. An encumbrance is a much broader term, referring to any sort of claim against a property. Any lien is an encumbrance, but not all encumbrances are liens.

How do I remove encumbrances?

When a mortgage or deed of trust has been paid off, the encumbrance is then removed from the property in the public records. A common document to remove an encumbrance is called a reconveyance deed, which reconveys clear title to the property owner.

What does free and clear of all encumbrances mean?

In property law, the term free and clear refers to ownership without legal encumbrances, such as a lien or mortgage. So, for example: a person owns a house free and clear if he has paid off the mortgage and no creditor has filed a lien against it.

Can a house be sold with a lien on it?

Property liens can greatly delay the sale of a home, as they completely stall the selling process. The property can only be sold once the lien has been paid off, settled, or once an alternative agreement has been reached with the creditor in question or with the interested buyer.

Is a lien a charge?

A lien generally entitles the creditor to retain possession of the property, but, unlike a charge not to deal with it (to sell it, for example). … The existence of a power to sell does not convert the lien into a charge as such a charge would require registration (see paragraph 40.126) [note 1].

What are financial encumbrances?

Financial Encumbrance means any Encumbrance securing the payment of an amount of money due and owing as at the Closing Time and any Encumbrance securing an obligation to repay borrowed money.

How do you use keen in a sentence?

Keen-on sentence examplesI am keen on the reportage style of pictures. … I’m not too keen on that part. … He wasn’t too keen on the idea when she first told him about it. … Golf he did not take up till comparatively late in life; and, though he became keen on the game, he never attained more than a moderate proficiency.More items…

What are liens and encumbrances?

A lien is a legal right or interest of a creditor in the property of another, usually lasting until a debt or duty is satisfied. An encumbrance is a claim or liability attached to property. It includes any property right that is not an ownership interest. A lien is a type of encumbrance.

What is an encumbrance accounting?

An Encumbrance is a type of transaction created on the General Ledger when a Purchase Order (PO), Travel Authorization (TA), or Pre-Encumbrance (PE) document is finalized. … The purpose and main benefit of encumbrance accounting is avoiding budget overspending, by showing open commitments as part of projected expenses.