defeasance

Definition

1. Noun (Law):
   • Voidance or annulment: "defeasance" refers to the legal act of rendering a contract, deed, or obligation null and void. It is the formal process of cancelling or abrogating a legal instrument.
   • Conditional clause: In property law, a "defeasance" can also denote a clause within a deed that specifies conditions under which the grantee's interest in property may be terminated.

Usage Examples

• Legal annulment:
  • The court ordered the defeasance of the lease due to a breach of contract. (The lease was legally cancelled.)
• Conditional clause:
  • The deed included a defeasance clause allowing the land to revert to the original owner if the property was not developed within five years. (A clause that sets conditions for voiding the transfer.)

Advanced Usage

• "defeasance of a mortgage": the act of cancelling a mortgage upon full repayment.
  • After the final payment, the bank issued a defeasance document to release the property lien. (The mortgage was legally voided.)

Variants and Related Words

• Defeasible (adj): capable of being annulled or made void.
  • The contract is defeasible if either party fails to meet the terms. (It can be legally cancelled.)
• Defeasibility (n): the quality of being capable of being annulled.
  • The defeasibility of the agreement was challenged in court. (The potential for cancellation was questioned.)

Synonyms

• Voidance: the act of making something legally invalid.
• Annulment: the formal declaration that something is no longer legally valid.
• Abrogation: the official repeal or cancellation of a law or contract.

Related Idioms

Phrasal Verbs