Escrow & Title
In Massachusetts, an 'encumbrance' on a property refers to:
AA claim, lien, charge, or liability attached to the property that affects its value or transferability✓ Correct
BOnly mortgage debt against the property
CThe physical characteristics of the property
DThe assessed value for tax purposes
Explanation
An encumbrance is any claim, lien, easement, deed restriction, or other burden attached to real property that may affect its value or ability to be transferred. Examples include mortgages, tax liens, easements, and deed restrictions.
People Also Study
Related Massachusetts Questions
- In Massachusetts, a 'deed restriction' (also called a restrictive covenant) that limits property use:Property Ownership
- A Massachusetts seller's closing costs include a deed excise tax on a $900,000 sale, plus a 5% commission and $2,500 in attorney's fees. What are the seller's total closing costs?Real Estate Math
- Under Massachusetts Chapter 183A, a condominium's 'master deed' must include:Property Ownership
- In Massachusetts, a 'conservation restriction' (also called a conservation easement) placed on a property:Property Ownership
- A quitclaim deed in Massachusetts:Escrow & Title
- In Massachusetts, 'closing costs' paid by the buyer typically include all of the following EXCEPT:Escrow & Title
- Which type of deed is most commonly used in Massachusetts residential real estate sales?Escrow & Title
- A mechanic's lien in Massachusetts may be filed by:Escrow & Title
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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
Math Concepts
Study This Topic
Practice More Massachusetts Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Massachusetts Quiz →