defeasance clause

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.

Dictionary from West's Encyclopedia of American Law. 2005.


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.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • Defeasance Clause — A mortgage provision indicating that the borrower will be given the title to the property once all mortgage terms are met. The defeasance clause is not required in states using property liens as collateral for a mortgage. In this sense, the… …   Investment dictionary

  • defeasance clause — That provision in a mortgage which assures the revesting of title in the mortgagor when all the terms and conditions of the mortgage have been met. A clause which permits the mortgagor borrower to defeat the temporary and conditional conveyance… …   Black's law dictionary

  • defeasance clause — That provision in a mortgage which assures the revesting of title in the mortgagor when all the terms and conditions of the mortgage have been met. A clause which permits the mortgagor borrower to defeat the temporary and conditional conveyance… …   Black's law dictionary

  • 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 — /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 — [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 — The clause of a mortgage intended to define the terms and conditions upon which the mortgage shall be satisfied, cease to be security for a debt, and become void. First Nat. Bank v Bain, 237 Ala 580, 188 So 64. More generally defined as a clause… …   Ballentine's law dictionary

  • defeasance — /dɪ fi:z(ə)ns/ noun a clause (in a collateral deed) which says that a contract or bond or recognisance will be revoked if something happens or if some act is performed …   Dictionary of banking and finance

  • Оговорка об аннулировании — (defeasance clause) – статья в закладной, согласно которой заемщику залогодателю возвращается чистый титул после того, как выполнены все условия займа, включая погашение …   Словарь терминов по экспертизе и управлению недвижимостью

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