Defeasance Clause


Definition of "Defeasance clause"

Provision guaranteeing the return of title to a mortgagor upon satisfaction of a mortgages conditions and terms. Causes the discharge of a mortgagees estate interest in a property.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Claims Representative

Same as term Adjuster: individual employed by a property and casualty insurance company to settle on ...

Accelerated Depreciation

Method recognizing higher amounts of depreciation in the earlier years and lower amounts in the late ...

Temporary Buydown

A reduction in the mortgage payment made by a homebuyer in the early years of the loan in exchange ...

Spreadsheet

Risk management tool to determine risk exposure and to help spread the risk. A risk manager consider ...

Multiemployer Plan

Pension or other employee benefit to cover employees at two or more financially unrelated companies. ...

International Employee Benefit Network

Agreement among insurance companies through which a multinational employer is permitted to purchase ...

Related Real Estate FAQ

What Is Hazard Insurance?

Hazard insurance is insurance coverage that compensates for physical damage to a property from natur ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property ...

What Is A Housing Ratio?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance ...

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

What Is A Mortgagor?

A mortgagor is the borrower. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Foreclosure - The Pros and Cons of Buying 10 Tips for Homebuyers Home Prices - The Extra Costs 5 signs of house foundation problems What is Hazard Insurance?

FAQ

What is hazard insurance? What is a rate lock? What are my coverage options? What Will My ARM Loan Payment Be ? What is a housing ratio?