Outrageously Funny Word Dictionary :: Incumbrance

👉 In law, an "incumbrance" is a debt or obligation that exists on someone else's property. It refers to any legal right to use another person's property, such as a piece of land, building, or vehicle. The purpose of this concept is to ensure that all parties involved in the transaction have equal rights and responsibilities.

incumbrances

👉 The term "incumbrancer" refers to a person or entity that is required to pay some kind of debt, loan, or other obligation. In legal terms, it's often used in reference to a creditor seeking repayment for an outstanding amount owed by another party.

incumbrancer

👉 In law, "incumbrance" is a legal term that refers to the obligation or liability of someone to pay for something owed, such as property, debt, or obligation. In other words, it's about the financial responsibility someone has towards another party.

incumbrance