DEFEASANCE CLAUSE

By SovConn | June 29, 2014

defeasance clause.A mortgage provision stating that the conveyance to the mortgagee will be

ineffective  if  the  mortgagor  pays  the  debt  on  time.  See  DEFEASANCE(3).  [Cases:  Mortgages

33. C.J.S. Mortgages §§ 22, 27, 30–34.] [Blacks Law 8th]

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