Property Ownership
In Florida, an 'encumbrance' on real property is:
AAny improvement that enhances property value
BAny claim, lien, charge, or liability that limits or affects ownership of the property✓ Correct
CA government permit for development
DA property tax bill
Explanation
An encumbrance is any claim, lien, easement, covenant, restriction, or other liability attached to real property that diminishes its value or restricts its use or transfer. Encumbrances don't prevent ownership transfer but can affect title.
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Key Terms to Know
Encumbrance
Any claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EasementA non-possessory right to use another person's land for a specific purpose.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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