A Charges Register or Register of Charges is a formal record of all charges (encumbrances or liens) that a company has granted over its assets, often required by law to be maintained. It includes details of secured loans and other financial obligations which creditors have claims to.
A clear title signifies that a property is free from any encumbrance, obstruction, burden, or limitation that questions its legal validity or ownership.
A cloud on title refers to any matter appearing in the record of a title to real estate that appears to reflect the existence of an outstanding claim or encumbrance which, if valid, would defeat or impair the title. This could, however, be proven invalid by evidence outside the title record.
An encumbrance is any right to, interest in, or legal liability upon real property that doesn't prohibit passing title to the land but diminishes its value. Encumbrances include easements, licenses, leases, timber privileges, homestead privileges, mortgages, and judgment liens.
A lien is a legal right or interest that a creditor has in the debtor's property, which lasts until the debt obligation is satisfied. It is a type of encumbrance used to secure the payment of a debt, judgment, mortgage, or taxes.
A mortgage lien is an encumbrance on property used to secure a loan. The lien holder has a claim to the property in the event of a loan default.
A scenic easement is a type of encumbrance on the title to a property designed to preserve it in a more or less natural or undeveloped state.
The condition of sale of real estate property whereby the purchaser takes property encumbered by a pre-existing mortgage, and the purchaser's obligation to the mortgagee is limited to the property subject to the mortgage, unless the purchaser becomes personally liable on the debt by assuming the mortgage.
