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In Hong Kong, there is a statutory definition of "encumbrance".In Conveyancing and Property Ordinance (Cap. 219) it reads: ""encumbrance" (產權負擔) includes a legal and equitable mortgage, a trust for securing money, a lien, a charge of a portion, annuity, or other capital or annual sum; and "encumbrancer" (產權負擔人) has a meaning corresponding with that of "encumbrance" and ...
Condition whereby while encumbered ownership of property is achieved or retained, encumbered ownership of it is contingent upon the performance of the obligation to somebody indebted to, and possession and unencumbered ownership of it is contingent upon completion of obligation. Pledge: Pawnbrokering: Pawnbroker Collision (Conflict)
Clear title is the phrase used to state that the owner of real property owns it free and clear of encumbrances. In a more limited sense, it is used to state that, although the owner does not own clear title, it is nevertheless within the power of the owner to convey clear title. For example, a property may be encumbered by a mortgage. This ...
The mortgagor must obtain the mortgagee’s written consent if he wants to encumber the property with a servitude or wishes to dispose of the property. If consent is not obtained, the mortgagee has the right to follow-up property. [121] The mortgagor retains possession and must reasonably maintain the mortgaged property.
The Encumbered Estates' Court was established by an act of the British Parliament in 1849, the Incumbered Estates (Ireland) Act 1849 (12 & 13 Vict. c. 77), to facilitate the sale of Irish estates whose owners, because of the Great Famine, were unable to meet their obligations. [1]
The current asset formula includes the total sum of all current assets. Businesses can use this formula to assess their ability to cover current liabilities and remain financially solvent if ...
Occasionally, borrowers have raised enough cash at the last minute (usually through desperate fire sales of other unencumbered assets) to offer good tender and have thereby preserved their rights to challenge the foreclosure process. Courts have been unsympathetic to attempts by such borrowers to recover fire sale losses from foreclosing lenders.
A baby boomer putting money into a piggy bank. Following the Second World War, baby boomers benefited en masse from the economic boom that followed, with the U.S. coming out of the war as the true ...