Dictionary of Business Terms: unencumbered property
unencumbered property
real estate with free and clear title; property owned in fee simple, that is, there are no mortgage, vendor, mechanic's, or tax liens on the property, no restrictive covenants exist, and no easements have been granted.
Dictionary of Real Estate Terms: unencumbered property
unencumbered property
real estate with free and clear title.
Example:Nash owns an unencumbered property. Nash's interest is fee simple, there are no mortgage, vendor, mechanic's, or tax liens on the property, no restrictive covenants exist, and no easements have been granted.
