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defeasance

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
de·fea·sance  (d-fzns)
n.
1. A rendering void; an annulment.
2.
a. The voiding of a contract or deed.
b. A clause within a contract or deed providing for annulment.

[Middle English defesaunce, from Anglo-Norman, from Old French defesance, from defesant, present participle of desfaire, to destroy; see defeat.]

defeasance [dɪˈfiːzəns]
n Chiefly law
1. (Law) the act or process of rendering null and void; annulment
2. (Law)
a.  a condition, the fulfilment of which renders a deed void
b.  the document containing such a condition
[from Old French, from desfaire to defeat]


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3 million defeasance transaction for Balestra Capital Ltd.
For example, 2005 brought the greatest recent change in real estate values, which led to a volume of defeasance that was four times greater than the previous year's and more than twice the total volume of defeasance in all prior years combined.
Such a move would free the agency to pursue reforms, but state legislators have been reluctant to approve bond defeasance without a long-term plan in place.
 
 
 
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