outstanding interest

outstanding interest
The interest of a third party not directly involved in the transaction. So, an interest in mortgaged property other than that of mortgagor and mortgagee. 36 Am J1st Mtg § 199. An interest in property seized under execution other than that of the judgment debtor. 30 Am J2d Exec §§ 443 et seq. A claim of title in himself by a person who asserts such claim adversely to the ostensible owner of the land.

Ballentine's law dictionary. . 1998.

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