Definitions for defeasance
dɪˈfi zənsde·fea·sance

WiktionaryRate this definition:0.0 / 0 votes

1. defeasancenoun

   Destruction, defeat, overthrow.

2. defeasancenoun

   The rendering void of a contract or deed; an annulment.

Samuel Johnson's DictionaryRate this definition:0.0 / 0 votes

1. DEFEASANCEnoun

   Etymology: defaisance, French.

   1. The act of annulling or abrogating any contract or stipulation.2.Defeasance is a condition annexed to an act; as to an obligation, a recognisance, or statute, which performed by the obligee, or the cognizee, the act is disabled and made void, as if it had never been done. John Cowell3. The writing in which a defeasance is contained.4. A defeat; conquest; the act of conquering; the state of being conquered. Obsolete.

   That hoary king, with all his train,
   Being arrived, where that champion stout,
   After his foe’s defeasance, did remain,
   Him goodly greets, and fair does entertain. Fairy Queen.

WikipediaRate this definition:0.0 / 0 votes

1. Defeasance

   Defeasance (or defeazance) (French: défaire, to undo), in law, an instrument which defeats the force or operation of some other deed or estate; as distinguished from condition, that which in the same deed is called a condition is a defeasance in another deed. The term is used in several contexts in finance, including: a clause in a mortgage granting a borrower exclusive ownership in a property after a debt is repaid, a corporate finance technique where a corporate bond issue is repaid through an irrevocable trust, which allows the corporation to remove liabilities from its balance sheet; notably used by Exxon in 1982A defeasance should recite the deed to be defeated and its date, and it must be made between the same parties as are interested in the deed to which it is collateral. It must be of a thing defensible, and all the conditions must be strictly carried out before the defeasance can be consummated. Defeasance in a bill of sale is the putting an end to the security by realizing the goods for the benefit of the mortgagee. It is not strictly a defeasance, because the stipulation is in the same deed; it is really a condition in the nature.

Webster DictionaryRate this definition:3.0 / 1 vote

1. Defeasancenoun

   a defeat; an overthrow

2. Defeasancenoun

   a rendering null or void

3. Defeasancenoun

   a condition, relating to a deed, which being performed, the deed is defeated or rendered void; or a collateral deed, made at the same time with a feoffment, or other conveyance, containing conditions, on the performance of which the estate then created may be defeated

4. Etymology: [OF. defesance, fr. defesant, F. dfaisant, p. pr. of defaire, F. dfaire, to undo. See Defeat.]

FreebaseRate this definition:0.0 / 0 votes

1. Defeasance

   Defeasance of a securitized commercial mortgage is a process in commercial real estate finance by which a borrower substitutes other income-producing collateral for a piece of real property to facilitate the removal of an existing lien without paying-off of the existing note. Generally, a basket of United States treasury obligations is the only collateral “acceptable” for this type of substitution – although some securitized loan documents do allow for the use of agency securities that are less costly. A quick way to get an estimate of the cost of a defeasance is to use a defeasance cost calculator.The original note remains in place after a defeasance, but it is collateralized and serviced by the substituted securities instead of the real estate. These securities can be held by either the original borrower or by a “successor borrower” entity which uses the income from/disposition of the securities to make the monthly debt service payments and balloon payment on the mortgage being defeased. The premium a borrower pays to defease is the total cost of purchasing the securities less the outstanding balance on the loan. Payments to Commercial mortgage-backed security bondholders are not disrupted, and the borrower can sell or place a new first lien on the property. Unlike yield maintenance, defeasance is neither a type of prepayment nor a prepayment penalty.

Chambers 20th Century DictionaryRate this definition:0.0 / 0 votes

1. Defeasance

   de-fēz′ans, n. undoing: defeat.—adjs. Defeas′anced, liable to be forfeited; Defeas′ible, that may be defeated or annulled.—n. Defeas′ibleness.—Deed of defeas′ance (Eng. law), an instrument which defeats the operation of some other deed or estate; and that which in the same deed is called a condition, in a separate deed is a defeasance. [O. Fr. defaisance—defaire, to undo.]

How to pronounce defeasance?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say defeasance in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of defeasance in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of defeasance in Pythagorean Numerology is: 9

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