Defeasance Clause: What is it? Real estate license exam questions.





Today we are talking about the defeasance clause. In certain states, a defeasance clause is a required contract provision that ensures that the title for the property is transferred to the buyer, once the mortgage is fully paid off.

See if your state is Title Theory or Lien Theory here: https://realestatelicensewizard.com/title-theory-vs-lien-theory/

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