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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Encumbrance


Synonyms:burden, impediment, onus
Filed Under: financial-banking, legal-contracts, mortgages, real-estate
Tags: banking, contract, legal, mortgage, realty
 

Definition of encumbrance

encumbrance
1. A claim (as a lien) against a property or more specifically, an interest or right (as an easement or a lease) in real property that may diminish the value of the estate, but does not prevent the conveyance of the estate. Encumbrances can include mortgages, leases, easements, or restrictions.

Related Terms and Acronyms:

  • bundle of rights   A set of legal rights that an owner has regarding a property.
  • lien   A legal hold or claim of a creditor on the property of another.
  • real estate (RE)   A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."

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