DEFEASANCE CLAUSE
A mortgage provision indicating that the borrower will be given the title to the property once all mortgage terms are met. The defeasance clause is not required in states using property liens as collateral for a mortgage. In this sense, the clause is a substitute for collateral. Most states allow property liens when mortgages are issued, and don't follow the common law theory requiring a defeasance clause. In real estate, a lien gives the mortgagee the right to foreclose the property upon default of the terms in order to recoup what was owed.
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Tax which is levied on the investment income, at a fixed tax rate, as the investor pulls it out. Backup withholding aids in ensuring that the gover ...
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A budgeting method wherein the activities that are accumulating costs in the organization's functional areas are recorded and its relationship ...
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