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What is Defeasance?
In the context of a CMBS (Commercial Mortgage Backed Security) loan, defeasance is the process by which a borrower is released from the obligations associated with its debt through the purchase of a portfolio of securities. The proceeds of which will be sufficient to make all of the remaining interest and principal payments on the mortgage loan. This portfolio of securities serves as the replacement collateral for the property or properties under the loan. Thus, defeasance removes the lender's lien against the Borrower's property and gives the property owner clear title. This process is readily understood but in practice it is much more complex, and involves a number of parties that often have divergent interests. DefeaseIt has a history of success in assisting its clients in defeasing their loans and since this is our sole focus in your transaction we are able to provide a focused and service biased to your needs.

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