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Refinance and Mortgage Encyclopedia - free and clear

Free and clear

Owning propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. free and clear is having titleTitle is the evidence of ownership. In essence, title is more important than ownership because having to a property without encumbrances; that is, free of liens. Also known as having "clear titleOwnership that is free of liens, defects, or other legal encumbrances." or "marketable titleTitle which can be readily marketed to a reasonably prudent purchaser aware of the facts and their legal."
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