Definition of Defeasance:
Stipulation in an agreement which provides for its cancellation under specified conditions. For example, a defeasance clause in a deed of trust automatically causes the trust propertys title to revert from the trustee to the borrower when the debt is paid off.
The action or process of rendering something null and void.
Synonyms of Defeasance
Cancellation, Revocation, Rescindment, Reversal, Abrogation, Retraction, Invalidation, Nullification
How to use Defeasance in a sentence?
- 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.
Meaning of Defeasance & Defeasance Definition