An indenture is a legal contract that reflects or covers a debt or purchase obligation. It specifically refers to two types of practices: in historical usage, an indentured servant status, and in modern usage, it is an instrument used for commercial debt or real estate transaction.

What is an indentured person?

Indentured servitude refers to a contract between two individuals, in which one person worked not for money but to repay an indenture, or loan, within a set time period. ... However, indentured servants could be sold, loaned, or inherited, at least during the duration of their contract terms.

What is an example of indentured?

The definition of indentured is bound by a work agreement. A foreign worker who agrees to work on a farm for five years is an example of someone who is indentured.