CMIC [Internet]; Aug 9, 2016 [cited 2016 Aug 9]. Available from: http://www.allacronyms.com/CMIC. 'CMIC', All Acronyms, 9 August 2016, <http://www.allacronyms.com/CMIC> [accessed 9 August 2016] All Acronyms, CMIC (Aug. 9, 2016, 2:08 AM), available at http://www.allacronyms.com/CMIC.
Defeasance is a substitution of collateral. The borrower uses proceeds from a refinance or sale to purchase a portfolio of securities that is sufficient to make the remaining debt service payments required by the loan. The securities are pledged to the lender who releases the real estate from the lien of the mortgage.
July 02, 2015 12:15 am â¢ JOHN NITSCHKE Bismarck. I now directly accuse Robert Snyder of ignorance of the law. As a young man, I respected Black's, but ... nonfeasance is a term used in tort law to describe inaction that allows or results in harm to a person or to property.Courts have found a duty to act if a person does something innocuous that later poses a threat and then fails to act to prevent harm.alfeasance is any act that is illegal or wrongful. Misfeasance is an act that is legal but improperly performed. Nonfeasance, by contrast, is a failure to act that results in harm.