Defeasance
Pronunciation : De*fea"sance
Part of Speech : n.
Etymology : [OF. defesance, fr. defesant, F. d?faisant, p. pr. of defaire, F. d?faire, to undo. See Defeat.]
Definition : 1. A defeat; an overthrow. [Obs.] After his foes' defeasance. Spenser.
2. A rendering null or void.
3. (Law)
Defn: A condition, relating to a deed, which being performed, the deed is defeated or rendered void; or a collateral deed, made at the same time with a feoffment, or other conveyance, containing conditions, on the performance of which the estate then created may be defeated.
Note: Mortgages were usually made in this manner in former times, but the modern practice is to include the conveyance and the defeasance in the same deed.
Source : Webster's Unabridged Dictionary, 1913