Defeasance meaning

dĭ-fē'zəns
A rendering void; an annulment.
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The voiding of a contract or deed.
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A clause within a contract or deed providing for annulment.
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The annulment of a contract or deed.
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A clause stating a condition the fulfillment of which makes the deed, contract, etc. void in whole or in part.
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The ability of a debtor to offset a liability by purchasing government securities or a specialized risk management contract.
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Voiding a contract or deed because a certain prohibited action has occurred.
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The abrogation of an interest in real property.
noun
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(US, law) The rendering void of a contract or deed; an annulment.
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Origin of defeasance

Middle English defesaunce from Anglo-Norman from Old French defesance from defesant present participle of desfaire to destroy defeat