Pennsylvania Auctioneer Practice Exam

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What is an encumbrance?

  1. A legal limit on property use

  2. A restriction on property transfer

  3. Ownership by a third party

  4. Property improvement bond

The correct answer is: A legal limit on property use

An encumbrance refers to a legal limit on the use of a property. This can include restrictions or limitations that affect the property, such as easements, liens, or mortgages. These limitations can impact how the property is used or transferred, making option A the correct answer. Options B, C, and D are incorrect because they do not correctly define what an encumbrance is. Option B refers to a restriction on property transfer specifically, while option C refers to ownership by a third party and option D refers to a property improvement bond, none of which fully encompass the concept of an encumbrance.

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