Define: Incumber

An incumber refers to a legal term used to describe a claim, lien, or encumbrance on a property or asset that restricts its transfer or use until the obligation is fulfilled.

To determine if a property has any incumbers, you can conduct a title search or review the property’s title report, which will provide information about any existing liens or encumbrances.

Common types of incumbers include mortgages, tax liens, mechanic’s liens, judgment liens, and easements.

Yes, an incumber can be removed. This can be done by satisfying the obligation or lien associated with it, such as paying off a mortgage or resolving a tax lien.

Yes, an incumber can affect the sale of a property. Prospective buyers may be hesitant to purchase a property with significant incumbers, as it may limit their ability to use or transfer the property freely.

In most cases, incumbers are not automatically transferred to a new owner. However, some incumbers, such as easements, may be attached to the property and transfer with it.

To protect yourself from purchasing a property with undisclosed incumbers, it is crucial to conduct a thorough title search and obtain title insurance. Title insurance can provide coverage for any undiscovered incumbers that may arise after the purchase.

In some cases, it may be possible to negotiate or settle an incumber. This typically involves working with the party holding the incumber to reach an agreement that satisfies the obligation or lien.

Yes, certain incumbers may have priority over others. For example, a mortgage lien is typically given priority over other liens, such as judgment liens or mechanic’s liens.

Ignoring an incumber can have serious consequences, such as foreclosure, legal action, or the inability to sell or transfer the property. It is important to address any incumbers promptly and seek legal advice if necessary.