Definition of defeasance in English:

defeasance

Line breaks: de|feas|ance
Pronunciation: /dɪˈfiːz(ə)ns
 
/

noun

[mass noun] Law
  • 1The action or process of rendering something null and void.
    More example sentences
    • It does look as if it is to aid the taxpayer though, does it not, because it is then subject to defeasance, if you like, under itself.
    • It is a condition subsequent, which provides for defeasance in the event that there are further assets are discovered, whether or not the couple knew about them.
    • As conduit loans have become increasingly popular financing vehicles in the commercial mortgage market, defeasances of these loans have become relatively common transactions, as well.
  • 1.1 [count noun] A clause or condition which, if fulfilled, renders a deed or contract null and void.

Origin

late Middle English (as a legal term): from Old French defesance, from defaire, desfaire 'undo' (see defeat).

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