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LSDefine

Simple English definitions for legal terms

free and clear

Read a random definition: Madrid Protocol

A quick definition of free and clear:

Free and clear means owning something completely without any debt or loans attached to it. This usually applies to real estate, but can also apply to other things like cars or appliances. If someone has a mortgage or loan on their property, they don't own it free and clear. But once all the debt is paid off, they will own it completely without any obligations.

A more thorough explanation:

Definition: Free and clear means that someone owns property without any debt attached to it. This applies to real estate, cars, appliances, and other items. When there is a mortgage, loan, or lien attached to the property, the person does not own it free and clear. However, once all debt is paid or released, the person will own the property free and clear.

  • John bought a house for $200,000 and took out a mortgage for $150,000. He still owes $100,000 on the mortgage, so he does not own the house free and clear.
  • Sarah inherited a car from her grandfather. There is no loan or lien attached to the car, so she owns it free and clear.
  • Mark bought a refrigerator on credit and still owes $500 on it. He does not own the refrigerator free and clear.

The examples illustrate the definition of free and clear by showing situations where someone either does or does not own property without any debt attached to it. John's house and Mark's refrigerator are not owned free and clear because there is still debt attached to them. Sarah's car, on the other hand, is owned free and clear because there is no debt attached to it.

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Morning
10:37
Gecko, I feel pretty good. Two of the RC passages had really tough inference questions -- hoping I narrowed down my answer choices correctly
10:38
Very happy with LR other than having to guess on a couple questions cuz of time
10:42
i have a question about my personal statement. in my activism for the hospitality workers' union, i organized and spoke up in favor of stronger regulations on airbnb because the unregulated spread of airbnb throughout LA was inflating housing costs for workers and threatening their job security. do you think it's too divisive to mention regulating airbnb? idk
Nostradumbass
10:44
I wrote mine about how all activists should be consolidated into a large smelting pot and refined down to a viscous goo
Nostradumbass
10:45
Expecting a lot of rejections though
11:07
I'm sure you'll get a full ride to a few schools :P
11:11
The impression I get is most schools try not to judge based on the political implications of what you write about. They probably care more that you saw a problem and tried to fix it. That seems like a great thing to write a PS about @chowie
11:18
Besides, if a school didn’t let you in for trying to fix a problem you saw in your community, that doesn’t say great things about your school’s culture (assuming the thing you did showed good common sense judgment ofc)
11:19
That school’s* culture
11:23
Thanks Howl you're right :D I def talked about solving problems in my PS
12:03
@HowlEngineer: what's your dream school
MildChiller
12:08
"Have you applied for admission to [school] in a prior year" I applied in Oct. of the 23-24 cycle, should I put 23 or 24 as the year I applied?
MildChiller
12:09
Bcuz 2023 is when I technically applied but I applied for admissions in 2024
12:14
2024 cuz that's when you would've been admitted
I agree with Howl
12:19
Gecko what's ur dream school
Hard to say. I'm pretty firmly committed to the philly area so probably temple or villanova
Also relatively debt averse so I'd have to get a good scholarship from BC or Fordham to want to go but that's not very likely for me
Any advice? lol
[] baddestbunny
12:25
what’s a good scholarship for you? what would make BC or Fordham worth it?
12:25
Hmmmm let me think
[] baddestbunny
12:25
fordham’s max aid they give is 45k per year
Bunny I can possibly get a 75%+ scholarship from villanova or temple, and I'd be moving back in with my parents if I went there so I'd have near-zero COL. It'd be really hard to beat that
I would prefer BC over Fordham just because I like boston more, but I'm expecting a WL there tbh
I would maybe consider BC with $ but I don't know how to decide if a better biglaw chance is worth the COL + higher tuition
12:50
How do I know if my status checkers are properly linked
12:59
@ChowieBean: right now, Michigan, but there are several that come close. How about you?
13:05
@Law01: I haven't gotten the status checkers to work at all. When I sent an email to the LSData folks the other week, they said they were working on fixing them
13:10
but I think "Last Checked" would change from "Never" to something else
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