Wiktionary
a. 1 (label en legal of a possession) In a condition of lawful outright ownership, without restrictions or encumbrances. 2 (label en legal of a person) Possessing such lawful outright ownership.
Wikipedia
In property law, the term free and clear refers to ownership without legal encumbrances, such as a lien or mortgage. So, for example: a person owns his house free and clear if he has paid off the mortgage and no creditor 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. Over 35% of all properties in the United States are owned free and clear with no outstanding mortgages or liens.
Usage examples of "free and clear".
The whole of my winters, as well as most of my summers, I had free and clear for study.
It's a long time you've profited by that ship, free and clear-now I'm collecting what's due me.
They said Enrico could keep half the profits, and the plant would be his free and clear after five years.
I will make my claim, pay a small reward to the lucky shopkeeper, and it will come to me free and clear.
A surge of will to be shut of it all, to shed the body with one fierce shake, burst free and clear of the shabby garment of bone and skin.
Bought it free and clear and stocked it well, with the prize-money and plunder from the campaign against the Colony, and married a sensible woman of middling years who was managing it until he returned.
But provided your setup holds good, and we ride away from the job free and clear, it's going to be one hell of a long time before you'll see me at Younger's Bend again.
Anyone harming him while he was on a personal adventure would be free and clear.
Of course, the dean-still alive and still counting grant-dollars when Dad died-probably felt quite foolish, I imagine, when Dad left the school a million dollars free and clear in his will, with a codicil canceling the bequest on the ground that the dean lacked vision.
He knew she wanted him to make love to her, and Jesus he'd been ready, but he had not done it, just told himself no no no so they were free and clear of each other and could forget each other maybe, if only she'd let him go.