encumbered property

Perfected liens are those liens for which a creditor has established a priority right in the encumbered property with respect to third party creditors.

Mrs. Rawthrote's suit yesterday accused Mr. McCoy of "deceptively proffering encumbered property for sale."

Alternatively, they may be divided into those that affect title (ex: lien, legal or equitable charge) or those that affect the use or physical condition of the encumbered property (ex: restrictions, easements, encroachments).