In property law, the term '''free and clear''' refers to ownership without legal encumbrances, such as a lien or mortgage.<ref>{{Cite book |last=Black |first=Henry Campbell |url=https://books.google.com/books?id=PNQgVoT2_aQC |title=A Law Dictionary Containing Definitions of the Terms and Phrases of American and English Jurisprudence, Ancient and Modern ... |date=1995 |publisher=The Lawbook Exchange, Ltd. |isbn=978-1-886363-10-6 |pages=523 |language=en}}</ref> For example: a person owns a house free and clear if he has paid off the mortgage and no creditor has filed a lien against it.
Lately there has been a resurgence in interest for free and clear properties despite being an investment form that has been prevalent from early on. Investing in free and clear properties removes the need for a bank loan entirely.{{cn|date=May 2023}} Over 35% of all properties in the United States are owned free and clear with no outstanding mortgages or liens.{{cn|date=May 2023}}
==See also== *Land title *Legal doublet
==References== <references />
Category:Property law
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