goofy-goober
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LSDefine
Simple English definitions for legal terms
incumbrance
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A quick definition of incumbrance:
Incumbrance: This is another word for encumbrance. It means something that limits or restricts the use or transfer of property. For example, if you have a mortgage on your house, that is an incumbrance because it means you can't sell the house without paying off the mortgage first. Other examples of incumbrances include liens, easements, and restrictions on land use.
A more thorough explanation:
Definition: An incumbrance is a legal claim or liability on a property that limits the owner's ability to sell or transfer it. It can be a mortgage, a lien, a tax, or any other type of debt or obligation.
Example: If you buy a house with a mortgage, the bank has an incumbrance on the property until you pay off the loan. This means that you cannot sell the house without paying off the mortgage first.
Explanation: The example illustrates how an incumbrance can limit the owner's ability to sell or transfer the property. In this case, the mortgage is a legal claim on the property that gives the bank the right to foreclose on it if the owner defaults on the loan. Until the mortgage is paid off, the owner cannot sell the property without the bank's consent.