the defeasance clause

25. What is the defeasance clause?

A. A statement requiring immediate payment in full if the borrower defaults.

B. A clause stating the lender can require payment in full at any time.

C. A statement giving the mortgagor to ability to redeem the property when payment of the obligations are made to the mortgagee.

D. A statement outlining the borrower’s rights to refinance the loan.