1. the act of making something null and void; annulment or cancellation
Usage: legal
2. a clause in a legal document that specifies conditions under which the document becomes void
Usage: legal

Examples

• The contract included a defeasance clause allowing termination under specific circumstances.
• The defeasance of the mortgage occurred when all payments were completed.
• Legal defeasance requires meeting all conditions specified in the original agreement.
• The bond’s defeasance provision protected investors from certain risks.
• After the defeasance, the property was free from all liens.
• The lawyer explained the defeasance terms to ensure the client understood the exit conditions.