Defeasance
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Défaisance
La défaisance (en anglais defeasance) est une opération financière consistant à céder simultanément des actifs financiers et des dettes à une société tierce, souvent une structure de défaisance. Cette cession est irrévocable.
Cette opération permet de nettoyer le haut du bilan en diminuant le montant des emplois et des ressources stables. Économiquement, il s'agit donc d'une compensation entre des dettes et des actifs plus ou moins liquides.
Lorsque la valeur comptable des dettes cédées est inférieure à celle des actifs cédés, l'entreprise supporte la totalité de la perte sur l'exercice en cours.
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Notes et références
Portail de l’économie
Catégorie : Finance de marché
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defeasance — de·fea·sance /di fē zəns/ n [Anglo French defesance, literally, undoing, destruction, from Old French deffesant, present participle of deffaire to destroy, undo see defeat] 1 a: a condition (as in a deed or will) that upon fulfillment terminates… … Law dictionary
Defeasance — De*fea sance, n. [OF. defesance, fr. defesant, F. d[ e]faisant, p. pr. of defaire, F. d[ e]faire, to undo. See {Defeat}.] 1. A defeat; an overthrow. [Obs.] [1913 Webster] After his foes defeasance. Spenser. [1913 Webster] 2. A rendering null or… … The Collaborative International Dictionary of English
defeasance — early 15c., from Anglo Fr. defesaunce, O.Fr. desfaisance undoing, destruction, from desfaire (Mod.Fr. défaire) to undo, destroy (see DEFEAT (Cf. defeat)). Related: Defease; defeasible … Etymology dictionary
defeasance — [dē fē′zəns, difē′z ns] n. [ME & Anglo Fr defesaunce < OFr defesance < defesant, prp. of defaire, desfaire: see DEFEAT] 1. the annulment of a contract or deed 2. a clause stating a condition the fulfillment of which makes the deed, contract … English World dictionary
Defeasance — Contents 1 Defeasance of Commercial Mortgage Loans 1.1 Defeasance of a Securitized Commercial Mortgage Loan 1.2 Defeasance Terms to Consider at Loan Origination … Wikipedia
defeasance — The legal release of a debtor from being the primary obligor under the debt, either by the courts or by the creditor. Also called legal defeasance. See in substance defeasance The setting aside by a borrower of cash or bonds sufficient to service … Financial and business terms
defeasance — noun a) Destruction, defeat, overthrow. that hoarie king, with all his traine, / Being arriued, where that champion stout / After his foes defeasance did remaine [...]. b) the rendering void of a contract or deed; an … Wiktionary
defeasance — /dafiyzans/ An instrument which defeats the force or operation of some other deed, estate, or will. A collateral deed made at the same time with a feoffment or other conveyance, containing certain conditions, upon the performance of which the… … Black's law dictionary
defeasance — /dafiyzans/ An instrument which defeats the force or operation of some other deed, estate, or will. A collateral deed made at the same time with a feoffment or other conveyance, containing certain conditions, upon the performance of which the… … Black's law dictionary
defeasance clause — A provision of a mortgage an interest in land given to a mortgagee lender to secure the payment of a debt which promises that the mortgagor borrower will regain title to the mortgaged property when all the terms of the mortgage have been met.… … Law dictionary
