| 0 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
Defeasance
Usually, a clause in a mortgage that gives the mortgagor (the borrower or debtor) the right to redeem his or her property upon the payment of the mortgagor's obligations to the mortgagee.
In other words, the right to pay off the loan early and save on interest.
NEXT: Demographics