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How would you describe a tenant, for example, who has completed his contract term and paid all his bills and has no outstanding debts - present or future?

I need a 2-3 word phrase, if not a one-worder.

The correct answer should be fitting for a Contract Status option, such as:

Contract Ended - (tenant) ______________

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    But if it is non-legal, 'free and clear' is yet another phrase.
    – Mitch
    Commented Apr 4, 2017 at 13:08
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    The title of your question is asking for something that is far broader than what your question is asking. Can you reconcile the two?
    – Canis Lupus
    Commented Apr 4, 2017 at 14:44
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    You need to clarify whether the person has no debts at all, or just no further debt to the landlord. E.g. s/he could have rent paid up-to-date, but owe thousands on credit cards. car payments, &c.
    – jamesqf
    Commented Apr 4, 2017 at 19:58
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    Technically, the word exonerated (relieved of a burden or responsibility) could be used here, but as a practical matter, everyone takes it as a synonym for acquitted (of a criminal charge), even though it comes from the same root as onus.
    – Michael Lorton
    Commented Apr 5, 2017 at 0:16
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    Can you clarify whether you want a term for someone who is truly debt and encumbrance free in all senses, or just someone who no longer owes any debts or obligations under a particular contract?
    – 1006a
    Commented Apr 5, 2017 at 15:43

10 Answers 10

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Possibly "Contract Ended - Paid in Full".

Paid in Full:

to pay all of the money owed (for a bill or debt) The receipt shows that their bill has been paid in full. (Merriam-Webster)

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  • This is an interesting expression, but it doesn't cover the "future obligations" aspect,
    – user66974
    Commented Apr 5, 2017 at 5:55
  • Future obligations are derived from the idea of still owing something right now. If you settle everything you right now owe, then of course you have no future obligations. Perhaps instead of "Paid in Full", maybe "Settled in Full" ?
    – Stewart
    Commented Apr 5, 2017 at 14:30
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There is the expression debt-free:

​

not owing money: - The company's virtually debt-free status gives it the flexibility to consider larger deals.

(Cambridge Dictionary)

In your case:

  • A person with no payments in arrears and future obligations.
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You should check unindebted .

Rhymezone:

unindebted
adjective: having debts paid up

Example: "An unindebted man, at last"

Webster's:

Unindebted adjective

  1. Not indebted.

Also, unobligated.

Rhymezone:

unobligated
adjective: not obligated

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Fulfill, Fulfil, Fulfill a contract

A contracted being "fulfilled" is an assertion that the terms have been met and there are no outstanding obligations.

Fulfilled is used a number of ways ... but I believe the meaning would be unambigous in your case.

fulfill

2a : to put into effect : execute He fulfilled his pledge to cut taxes.

b : to meet the requirements of (a business order) Their order for more TVs was promptly fulfilled.

c : to bring to an end she came to install herself and fulfill her time at the house — Willa Cather

d : to measure up to : satisfy She hasn't yet fulfilled the requirements needed to graduate.

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When my mortgage had been paid in full I received a letter from the mortgage holder saying that it was "fully discharged"

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"unencumbered of all obligations" was applied to me in the UK recently in a case relating to property conveyancing, and referred to me having no debt or things I might be required to legally do/pay (obligations).

That's some pretty specific legalese, and that might get you into trouble in your case/jurisdiction/context; and those two four-syllable words are pretty ugly. In all honesty I would go with @Taylor Ostberg's "Contract Ended - Paid in Full".

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free and clear

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. -- Wikipedia

Usage:

Insurer: "We will make the check out jointly to you and the lien-holder on your damaged car." Insuree: "Please make the check out just to me, as I own the vehicle free and clear."

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Perhaps "solvent," from Merriam-Webster

adj. "1 : able to pay all legal debts"

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    By the definition provided in this answer, solvent has not relevance to the question.
    – Canis Lupus
    Commented Apr 4, 2017 at 14:36
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    Able to pay doesn't mean that debts will be paid.
    – user66974
    Commented Apr 4, 2017 at 14:36
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    @Josh Also the former tenant may have paid all the rent and other charges associated with the tenancy, and may indeed have no other debts. However they could have no money for ongoing living expenses. This is hardly a definition of 'solvent'
    – BoldBen
    Commented Apr 4, 2017 at 20:21
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A legal term that might apply here is discharged through performance1.

A contract is said to be discharged when the parties no longer have any legal obligations to one another under the contract. There are several ways that a contract can be discharged, but the most common is through performance by both parties.2

This essentially means that the contract is over, because both3 parties have lived up to their respective sides of the agreement, and neither has any future obligation to the other. So you could say:

Contract Ended - (tenant) Discharged by Performance

N.B. I am not a lawyer; if you need this for real-world applications, and not just a work of fiction or similar, you should run it past a real attorney (or at least the folks at Law SE).

1 Linked definition from e-lawresources.co.uk; this is sometimes phrased *discharge by performance, as seen for example in this gradestack.com definition.
2 Accountlearning.com, "Discharge of a contract | Definition | Methods of discharge"
3 In some cases it might be possible for only one party to have been discharged by performance (when the other party hasn't lived up to their side of the agreement for some reason), but this term would still apply to the tenant in question.

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"Contract Ended - tenant is in the black".

be in the black

If a bank account is in the black, it contains some money, and if a person or business is in the black, they have money in the bank and are not in debt.

(Cambridge Dictionary)

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    I have a home mortgage, but I also have other assets, and my house is worth more than the mortgage principal. I'm in the black, but I'm not debt-free.
    – chrylis -cautiouslyoptimistic-
    Commented Apr 4, 2017 at 15:25
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    @chrylis - Your net position may be in the black, but an individual account can still be in the red.
    – AndyT
    Commented Apr 4, 2017 at 15:41
  • I wouldn't use idioms (such as "in the black") because they add another level of complexity / interpretation.
    – Ryan
    Commented Apr 4, 2017 at 18:15
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    The way I've always heard it used, it means "making a profit", which is orthogonal to being debt-free. Either way, Ryan's right, definitely not appropriate for a contract.
    – Mike Baranczak
    Commented Apr 5, 2017 at 4:04

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