A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more common forms of incumbrance are:
Taxes, water rents and assessments for local improvements that have become liens upon the property to which a contract or conveyance relates.
Mortgages.
Recorded judgments.
Property lease.
Lis pendens giving notice that an action or proceeding is pending in the courts affecting the title to the property.
Mechanics' liens for work or labor done or material furnished for use on the subject property.
Building or other structural encroachments on the property.
(1) Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. (2) A business loan in which ...
Legal proceeding whereby a person's property is attached and used to pay an obligation. The employer
may withhold part of the employee's salary to the court until the debt has been paid. ...
Right of a current stockholder to maintain the percentage ownership in a real estate company by purchasing new shares on a proportionate basis before they are issued to the public. It ...
(1) Bottom of something used as support. (2) Most essential element. (3) Type of interest rate used when computing compound interest equal to: (1 + I). (4) Justification of an argument or ...
Loan in which two or more lenders participate in the total financing of a single mortgage. The lenders in a piggyback loan do not necessarily have equal shares. ...
Failure or refusal to perform a specified action. The failure to fulfill contractually agreed upon terms or actions. Nonperformance creates a liability which can enable a judicial damage ...
The city of Clermont is just west of Orlando, Florida, which is probably one of the biggest entertainment grounds in the world. But, we are not here to talk about Orlando. We want to ...
In the Brundtland Report, the United Nations defined sustainable development as the kind of development that satisfies present societal needs without affecting future generations and their ...
Paid advertorials are articles written by public relations professionals that have just one goal in mind - to get you to buy a home. I\'m sure you\'ve seen them all over Newspaper Ads, ...
Many coastline cities are known for their beautiful beaches, gorgeous homes, and the breathtaking landscape. The coastline of Florida is no exception and some of the most popular coastal ...
Have you ever dreamed of living on the Atlantic coast, where the cool breeze softly touches your skin, and the sun is always shining? If that sounds like the ideal place to live for you, ...
An acre is a measuring unit used only for land measurements in the imperial system. The most common form in which an acre is measured, however, in a rectangle of 660 feet by 66 feet or, 1 ...
The meaning of appraised value is the evaluation of a property by a professional appraiser at the time of a mortgage origination process. The financing institution usually chooses the ...
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