defeasance
C2CEFR level
92/100Rarity: very rare
TechnicalRegister
Law noun
A collateral provision or condition that, on a stated event, defeats or annuls an estate or interest.
The deed of defeasance rendered the absolute conveyance a mere security, redeemable on repayment.
Business noun
The release of a borrower from a debt by setting aside enough assets to cover it.
Rather than refinance, the treasury team funded a defeasance portfolio of government bonds to retire the old notes.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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