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Demise

Death. A conveyance of property, usually of an interest in land. Originally meant a posthumous grant but has come to be applied commonly to a conveyance that is made for a definitive term, such as an estate for a term of years. A lease is a common example, and demise is sometimes used synonymously with "lease" or "let."

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Law Library - American Law and Legal InformationFree Legal Encyclopedia: Deed of covenant to Direct Tax