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Glossary   >   D   >   "Defeasance" Definition            Defeasance Practice whereby the borrower sets aside cash or bonds sufficient to service the borrowers debt. Both the borrowers debt and the offsetting cash or bonds are removed from the balance sheet. A provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower"s debt. The process of rendering a contract or deed null and void following a specified act. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Defeasance - Practice whereby the borrower sets aside cash or bonds sufficient to service the borrowers debt. Both the borrowers debt and the offsetting cash or bonds are removed from the balance sheet.

A provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower"s debt.

The process of rendering a contract or deed null and void following a specified act.