Definition of "Defeasance"

Ofelia  May, PA, GRI, AHWD, MRP  real estate agent
Ofelia May, PA, GRI, AHWD, MRP , Real Estate Agent ERA Grizzard Real Estate

Procedure that moves up the maturity date of the municipal bond to its call date. The call date permits the issuer of the bond to redeem the bond at any time after a stipulated minimum number of years have passed at a given price.

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