Bodega, California. Bodega is an unincorporated community and census-designated place (CDP) in Sonoma County in the U.S. state of California. The town had a population of 220 as of the 2010 Census. Bodega is located on Bodega Highway, about 5 mi (8 km) west of Freestone, California.
Legal Definition of abeyance. 1  1 : a lapse in the succession of property during which there is no person in whom title to the property is vested âusually used with in the estate was in abeyance.
What is 'Defeasance'. Defeasance is a provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower's debt. The borrower sets aside cash to pay off the bonds; therefore, the outstanding debt and cash offset each other on the balance sheet and do not need to be recorded.