Encumbrance
Definition of "Encumbrance"
Claim, such as a worker's lien, to property under the care, custody, and control of another. This situation occurs when a worker is not paid for labor provided. For example, a carpenter unable to collect payment for installing wood finishings seeks an encumbrance on the owner's property.
Popular Insurance Terms
Date of the initial annuity payment. ...
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Specific powers granted by the principal (the insurance company) to the agent in the contract. ...
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Written document containing instructions on managing one's assets during one's lifetime. The document may be revoked (unless made irrevocable at creation), terminated, or amended at any ...
Premium income divided by the surplus account. ...
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