For Defeasance we have terms and definitions in 6 topics. The topics are Accounting, Accounting Terms, Canadian Law, Finance, Financial and Securities.

Defeasance (Accounting)

is the release of a debtor from the primary obligation for a debt. A legal defeasance could take place in absolute termsi.e.the debt could cease to exist for anyone (by being forgiven or set aside)or the creditor could formally recognize that another party has taken over the primary obligation for the debt.

Defeasance (Accounting Terms)

Annulment of a contract or deed; a clause within a contract or deed that provides for annulment.

Defeasance (Canadian Law)

A side-contract which contains a condition which, if realized, could defeat the main contract. The common English usage of the word "defeasance" has also become acceptable in law, referring to a contract that is susceptible to being declared void as in "immoral contracts are susceptible to defeasance."

Defeasance (Finance)

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.

Defeasance (Financial)

See Advanced Refunding. See Advanced Refunding.

Defeasance (Securities)

Annulment of trust indenture conditions granting new bonds a claim on revenues, and the old bonds a claim on the escrow account containing the proceeds (the money) from the pre-refunding issue.

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