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.
Inspection refers to the physical scrutinizing review of goods, property, or documents. It is commonly required in various domains such as real estate, customs, and quality control to ensure compliance, assess conditions, and verify legal documents.
A series of equal or nearly equal payments made at the end of each equally spaced period. An ordinary annuity is commonly used in financial products like mortgages, leases, bonds, and retirement accounts.
