defeasances
/dɪˈfiːzənsɪz/
noun
- Plural of defeasance; multiple acts of annulling or voiding legal contracts or deeds.
- Defeasances are common in large real estate transactions when loans are refinanced.
- The legal team reviewed all the defeasances from the past year to ensure compliance.
- The bank processed several defeasances for properties that were paid off early.