Free and clear
In property law, the term free and clear refers to ownership without legal encumbrances, such as a lien or mortgage. So, for example: a person owns a house free and clear if he has paid off the mortgage and no creditor has filed a lien against it.
Lately there has been a resurgence in interest for free and clear properties despite being an investment form that has been prevalent from early on. Investing in free and clear properties removes the need for a bank loan entirely.[1] Over 35% of all properties in the United States are owned free and clear with no outstanding mortgages or liens.[2]
See also[]
- Land title
- Legal doublet
References[]
- ^ "http://www.investsteps.com/loans/how-to-find-free-and-clear-properties-for-investment/".
{{cite web}}: External link in|title= - ^ "How to Buy Free and Clear Real Estate (Part 1)".
 | This law-related article is a stub. You can help Wikipedia by . |
Categories:
- Property law
- Law stubs