I was wondering if anyone could help me understand the definition: Encumbered?
Also, what does it mean to have a property that is 100% encumbered?
I appreciate all of your help!
~Patrick
Encumbrance - any right to or interest in land that affects its value, including mortgage loans, unpaid taxes, easements, junior liens, or deed restrictions.
Just as a note, there is an investing glossary link on the top left side of this page.
encumbered is a way of saying that it has some type of lien, or someone else has an interest in the property.