Inproperty law, the termfree and clear refers to ownership without legalencumbrances, such as alien ormortgage.[1] For example: a person owns a house free and clear if he has paid off the mortgage and nocreditor 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.[citation needed] Over 35% of all properties in the United States are owned free and clear with no outstanding mortgages or liens.[citation needed]
