Defeasance

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• defeasance — de·fea·sance /di fē zəns/ n [Anglo French defesance, literally, undoing, destruction, from Old French deffesant, present participle of deffaire to destroy, undo see defeat] 1 a: a condition (as in a deed or will) that upon fulfillment terminates… …   Law dictionary

• Defeasance — De*fea sance, n. [OF. defesance, fr. defesant, F. d[ e]faisant, p. pr. of defaire, F. d[ e]faire, to undo. See {Defeat}.] 1. A defeat; an overthrow. [Obs.] [1913 Webster] After his foes defeasance. Spenser. [1913 Webster] 2. A rendering null or… …   The Collaborative International Dictionary of English

• defeasance — early 15c., from Anglo Fr. defesaunce, O.Fr. desfaisance undoing, destruction, from desfaire (Mod.Fr. défaire) to undo, destroy (see DEFEAT (Cf. defeat)). Related: Defease; defeasible …   Etymology dictionary

• defeasance — [dē fē′zəns, difē′z ns] n. [ME & Anglo Fr defesaunce < OFr defesance < defesant, prp. of defaire, desfaire: see DEFEAT] 1. the annulment of a contract or deed 2. a clause stating a condition the fulfillment of which makes the deed, contract …   English World dictionary

• Defeasance — Contents 1 Defeasance of Commercial Mortgage Loans 1.1 Defeasance of a Securitized Commercial Mortgage Loan 1.2 Defeasance Terms to Consider at Loan Origination …   Wikipedia

• defeasance — The legal release of a debtor from being the primary obligor under the debt, either by the courts or by the creditor. Also called legal defeasance. See in substance defeasance The setting aside by a borrower of cash or bonds sufficient to service …   Financial and business terms

• defeasance — noun a) Destruction, defeat, overthrow. that hoarie king, with all his traine, / Being arriued, where that champion stout / After his foes defeasance did remaine [...]. b) the rendering void of a contract or deed; an …   Wiktionary

• defeasance — /dafiyzans/ An instrument which defeats the force or operation of some other deed, estate, or will. A collateral deed made at the same time with a feoffment or other conveyance, containing certain conditions, upon the performance of which the… …   Black's law dictionary

• defeasance — /dafiyzans/ An instrument which defeats the force or operation of some other deed, estate, or will. A collateral deed made at the same time with a feoffment or other conveyance, containing certain conditions, upon the performance of which the… …   Black's law dictionary

• defeasance clause — A provision of a mortgage an interest in land given to a mortgagee lender to secure the payment of a debt which promises that the mortgagor borrower will regain title to the mortgaged property when all the terms of the mortgage have been met.… …   Law dictionary