defeasance

de·fea·sance

D0089800 (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) n1. (Law) the act or process of rendering null and void; annulment2. (Law) a. a condition, the fulfilment of which renders a deed voidb. 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)]

Thesaurus

defeasance

nounAn often formal act of putting an end to:abolishment, abolition, abrogation, annihilation, annulment, cancellation, invalidation, negation, nullification, voidance.Law: avoidance, extinguishment.

Translations

defeasance

Related to defeasance: Legal defeasance, In Substance Defeasance

defeasance

n. an antiquated word for a document which terminates the effect of an existing writing such as a deed, bond, or contract if some event occurs.

defeasance

the act or process of rendering null and void; annulment. May also refer to a condition, the fulfilment of which renders a deed void or the document containing such a condition. See more especially VESTING.

DEFEASANCE, contracts, conveyancing. An instrument which defeats the force or operation of some other deed or estate. That, which in the same deed is called a condition, in another deed is a defeasance.
2. Every defeasance must contain proper words, as that the thing shall be void. 2 Salk. 575 Willes, 108; and vide Carth. 64. A defeasance must be made in eodem modo, and by, matter as high as the thing to be defeated; so that if one be by deed) the other must also be by deed. Touchs. 397.
3. It is a general rule, that the defeasance shall be a part, of the same transaction with the conveyance; though the defeasance may be dated after the deed. 12 Mass. R. 13 Pie P. 413 1 N. 11. Rep. 41; but see 4 Yerg. 57, contra. Vide Bouv. Inst. Index, h.t.; Vin. Ab. h.t.; Com. Dig. h.t.; Id. Pleader, 2 W 35, 2 W 37; Lilly's Reg. h.t.; Nels. Ab. h.t.; 2 Saund. 47 n, note 1; Cruise, Dig. tit. 32, c. 7,, s. 25; 18 John. R. 45; 9 Wend. R. 538; 2 Mass. R. 493.

defeasance

Defeasance

The setting aside by a borrower of cash or bonds sufficient to service the borrower's debt. Both the borrower's debt and the offsetting cash or bonds are removed from the balance sheet. In securities trading, where a clearing house becomes counterparty to each side of a trade, after the trade has been agreed. This is necessary to facilitate netting, and reduce counterparty risk exposure. The term has become popular recently, because of the growth of central counterparty clearing services in European cash equities markets.

Defeasance

1. A provision in a loan or bond removing it as a liability on a balance sheet if cash or a portfolio is set aside for debt service. Usually defeasance occurs when a borrower owns a portfolio of Treasury securities, the coupons of which are used to service a debt. When the borrower has set aside sufficient assets to cover the debt, the debt does not need to be recorded on a balance sheet.

2. More broadly, a provision in an agreement voiding the agreement under certain defined circumstances.

defeasance

The extinguishment of debt. While defeasance technically refers to extinguishment by any method (for example, by payment to the creditor), in practice it is generally used to mean discharging debt by presenting a portfolio of securities (usually, Treasury obligations) to a trustee who will use the cash flow to service the old debt. This procedure permits the firm to wipe the debt off its financial statements and to show extra income equal to the difference between the old debt and the smaller, new debt. Also called in-substance debt defeasance.

defeasance

The process of legal title being transferred back to a borrower once all payments and other requirements in a mortgage loan have been completed.

单词	defeasance
释义	defeasance de·fea·sance D0089800 (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) n1. (Law) the act or process of rendering null and void; annulment2. (Law) a. a condition, the fulfilment of which renders a deed voidb. 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)] Thesaurus defeasance nounAn often formal act of putting an end to:abolishment, abolition, abrogation, annihilation, annulment, cancellation, invalidation, negation, nullification, voidance.Law: avoidance, extinguishment. Translations defeasance Related to defeasance: Legal defeasance, In Substance Defeasance defeasance n. an antiquated word for a document which terminates the effect of an existing writing such as a deed, bond, or contract if some event occurs. defeasance the act or process of rendering null and void; annulment. May also refer to a condition, the fulfilment of which renders a deed void or the document containing such a condition. See more especially VESTING. DEFEASANCE, contracts, conveyancing. An instrument which defeats the force or operation of some other deed or estate. That, which in the same deed is called a condition, in another deed is a defeasance. 2. Every defeasance must contain proper words, as that the thing shall be void. 2 Salk. 575 Willes, 108; and vide Carth. 64. A defeasance must be made in eodem modo, and by, matter as high as the thing to be defeated; so that if one be by deed) the other must also be by deed. Touchs. 397. 3. It is a general rule, that the defeasance shall be a part, of the same transaction with the conveyance; though the defeasance may be dated after the deed. 12 Mass. R. 13 Pie P. 413 1 N. 11. Rep. 41; but see 4 Yerg. 57, contra. Vide Bouv. Inst. Index, h.t.; Vin. Ab. h.t.; Com. Dig. h.t.; Id. Pleader, 2 W 35, 2 W 37; Lilly's Reg. h.t.; Nels. Ab. h.t.; 2 Saund. 47 n, note 1; Cruise, Dig. tit. 32, c. 7,, s. 25; 18 John. R. 45; 9 Wend. R. 538; 2 Mass. R. 493. defeasance Defeasance The setting aside by a borrower of cash or bonds sufficient to service the borrower's debt. Both the borrower's debt and the offsetting cash or bonds are removed from the balance sheet. In securities trading, where a clearing house becomes counterparty to each side of a trade, after the trade has been agreed. This is necessary to facilitate netting, and reduce counterparty risk exposure. The term has become popular recently, because of the growth of central counterparty clearing services in European cash equities markets. Defeasance 1. A provision in a loan or bond removing it as a liability on a balance sheet if cash or a portfolio is set aside for debt service. Usually defeasance occurs when a borrower owns a portfolio of Treasury securities, the coupons of which are used to service a debt. When the borrower has set aside sufficient assets to cover the debt, the debt does not need to be recorded on a balance sheet. 2. More broadly, a provision in an agreement voiding the agreement under certain defined circumstances. defeasance The extinguishment of debt. While defeasance technically refers to extinguishment by any method (for example, by payment to the creditor), in practice it is generally used to mean discharging debt by presenting a portfolio of securities (usually, Treasury obligations) to a trustee who will use the cash flow to service the old debt. This procedure permits the firm to wipe the debt off its financial statements and to show extra income equal to the difference between the old debt and the smaller, new debt. Also called in-substance debt defeasance. defeasance The process of legal title being transferred back to a borrower once all payments and other requirements in a mortgage loan have been completed. defeasance Related to defeasance: Legal defeasance, In Substance Defeasance noun Synonyms for defeasance noun an often formal act of putting an end to Synonyms abolishment abolition abrogation annihilation annulment cancellation invalidation negation nullification voidance avoidance extinguishment
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defeasance

de·fea·sance

defeasance

de•fea•sance

defeasance

defeasance

defeasance

defeasance

defeasance

Defeasance

Defeasance

defeasance

defeasance

defeasance

Synonyms for defeasance

noun an often formal act of putting an end to

Synonyms