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Defeasance (or defeazance) (French: défaire, to undo), in law, is an instrument which defeats the force or operation of some other deed or estate; as distinguished from condition, that which in the same deed is called a condition is a defeasance in another deed. [1] The term is used in several contexts in finance, including: [2]
The statement explained that a bond defeasance is a process that sets aside and invests the remaining bond dollars in escrow to ensure that the principal and interest payments on the bonds are ...
A fee simple determinable is an estate that will end automatically when the stated event or condition occurs. The interest will revert to the grantor or the heirs of the grantor.
Escrow is an account separate from the mortgage account where deposit of funds occurs for payment of certain conditions that apply to the mortgage, usually property taxes and insurance. The escrow agent has the duty to properly account for the escrow funds and ensure that usage of funds is explicitly for the purpose intended.
People use the escrow process in the international trade, stock market and, most commonly, real estate arenas. Prospective homeowners go through the escrow process when they close on the sale of a...
The escrow process But you haven't given up, and finally you get the call from your real estate agent: Your latest offer has been accepted! You might think it's the end of the road to property ...
The solution was to merge the latter-day wadset and gage for years into a single transaction embodied in two instruments: (1) the absolute conveyance (the charter) in fee or for years to the lender; (2) an indenture or bond (the defeasance) reciting the loan and providing that if it was repaid the land would reinvest in the borrower, but if not ...
Escrow Estate – legal term for a person's net worth at any point in time alive or dead Estate – a very large property (such as country house or mansion ) with houses, outbuildings, gardens, supporting farmland, and woods