/dɪˈfiːzəns/ – noun
Definition: 1. việc hủy bỏ, việc bãi bỏ;
2. văn bản có điều khoản hủy bỏ một văn bản khác hay chấm dứt quyền.
A more thorough explanation: Defeasance is a legal term that refers to the act of rendering something null and void, typically a contract or a legal instrument, by fulfilling certain conditions or terms specified within the document. In the context of real estate, defeasance is often used to describe the process of extinguishing a mortgage or other financial obligation by fulfilling the terms of the agreement.
Example: The parties agreed to include a defeasance clause in the contract, outlining the conditions under which the agreement could be terminated.