defeasance


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de·fea·sance

 (dĭ-fē′zəns)
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
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
[C14: from Old French, from desfaire to defeat]

de•fea•sance

(dɪˈfi zəns)

n.
1. a condition rendering a deed or other instrument void.
2. a document stipulating such a condition.
[1400–50; Old French defesance <desfes- (past participle s. of desfaire to undo; see defeat)]
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Translations
défaisance
References in periodicals archive ?
When handling the tax ramifications of a defeasance, a practitioner must first have a working understanding of defeasance and why it exists.
In doing so, many have turned to defeasance while others have chosen to avail themselves of the agency's supplemental debt program," KBRA's Freddie Mac K-Series Borrowers Move On, or Top Off report said.
When the amortization had started to take effect on the loans, the borrower decided to pay the defeasance penalty and obtain a full-term seven-year interest-only loan with Beech Street.
Many conduit loans made in the '90s are now subject to defeasance as the only method to unlock equity in real estate property.
In a climate of rising interest rates, in-substance defeasance becomes an attractive option to companies because it results in higher reported earnings and a lower debt-to-equity ratio.
The Governmental Accounting Standards Board issued an exposure draft specifying how state and local governments should account for current refundings or advance refundings that result in defeasance of debt reported in proprietary funds.
Defease With Ease[R] facilitated a $66 million defeasance transaction that helped TMI Hospitality close a $93 million refinancing of 22 hospitality properties
Commercial mortgage-backed securities (CMBS) defeasance volume significantly increased over the past 18 months, jumping from $3.
M2 EQUITYBITES-September 28, 2010-Valeant Pharmaceuticals International reports redemption and defeasance of notes(C)2010 M2 COMMUNICATIONS http://www.
A unique aspect of this defeasance was the use of Agency for International Development (AID) bonds that saved The Groves $100,000 on the cost of the defeasance compared to a portfolio of traditional agency bonds, such as Fannie Mac and Freddie Mac securities.
In the case of the loan from BK1, X's economic risk is completely eliminated through the defeasance arrangement.