Free and Clear
Categories: Trading, Regulations
When we take out a loan to buy a car or a house, we kind of own that car or house, but we don’t really own it.
Technically, until that loan or mortgage is paid off, the bank owns it. Sad face. But once that last payment is made, hoo-eee! That house or car or whatever is totally ours, free and clear. In other words, we own it outright. No more payments to be made, no liens, no nothing, other than sweet, sweet 100% ownership.