unencumbered

Definition

Property owned free and clear without mortgages, liens, or other claims—the real estate equivalent of being debt-free and loving it. Either you're wealthy, you inherited well, or you've been paying your mortgage since the Reagan administration.

Example Usage

She owned the rental property unencumbered, allowing her to use it as collateral for purchasing another investment.

Origin

From the negation of 'encumbered,' meaning free from burdens or claims

Fun Fact

Only about 40% of homeowners own their properties unencumbered, though that percentage skews heavily toward retirees.

Source: Real estate ownership terminology

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