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Can a property with encumbrances be sold?

While many encumbrances are removed when the property is sold or when ownership is changed, this often ultimately depends on the type of encumbrance youre dealing with. For example, mortgages and liens generally need to be paid off at the time of sale, but easements usually remain attached to the property.

What is the encumbrance of sale?

An encumbrance is a claim or right held by someone other than a property owner that can affect how someone might use the property as well as their ability to sell it. There are various types of encumbrances, as described above. Some may affect a property owner in a negative way more than others.

What is an encumbrance on a bill of sale?

An encumbrance is a legal claim of ownership against a property. Encumbrances can be financial or legal and come in many forms, including easements, liens and encroachments. Some encumbrances can jeopardize a home sale or reduce a homes value, while others have little effect.

Does WV DMV require a bill of sale?

If the vehicle is purchased from an individual and the purchase price is below 50% of the current NADA Clean Loan Book value, a notarized bill of sale must accompany the application for title, or the tax will be assessed on the NADA Clean Loan Book value.