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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 defeasible estate is created when a grantor transfers land conditionally. Upon the happening of the event or condition stated by the grantor, the transfer may be void or at least subject to annulment.
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 ...
Here’s a quick look at a few terms that may appear in the mortgagee clause. Lender protections. These are the heart of the clause: the stipulations that protect the lender against financial loss ...
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Commercial mortgages often contain lockout provisions (typically a period of 1–5 years [2] where there can be no prepayment of the loan) which they can be subject to defeasance, yield maintenance and prepayment penalties to protect bondholders. European CMBS issues typically have less prepayment protection.
Associated Press Finance 34 minutes ago Stock market today: Drops for Lilly and Big Tech weigh on Wall Street, even as most stocks rise Drops for Eli Lilly and other influential companies are weighing on U.S. indexes Tuesday, even though most of the market is rising following an encouraging update on inflation.…