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defeasance

Syllabification: de·fea·sance
Pronunciation: /dəˈfēzəns
 
/

Definition of defeasance in English:

noun

Law
1The action or process of rendering something null and void.
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.
1.1A 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).

Definition of defeasance in:

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