encumbrance


encumbrance
Any right to, or interest in, land which may subsist in another to diminution of its value, but consistent with the passing of the fee by conveyance. Knudson v. Weeks, D.C.Okl., 394 F.Supp. 963, 976.
A claim, lien, charge, or liability attached to and binding real property; e.g. a mortgage; judgment lien; mechanics' lien; lease; security interest; easement or right of way; accrued and unpaid taxes. If the liability relates to a particular asset, the asset is encumbered. While encumbrances usually relate to real property, a purchaser of personal property is provided with a warranty of title against unknown encumbrances. U.C.C. No. 2-312

Black's law dictionary. . 1990.

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