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apportionment |
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Apportionment A division. The term may be used in insurance to indicate which policy bears what percentage of a loss. Alternatively, it may be used in the sale of real estate to show the property tax or insurance the buyer and the seller each owe for a year. See also: Apportionment Clause. apportionment Division into parts.Typically used when deciding how to allocate expenses relative to oil and gas leases,and when deciding that portion of the income of a company or utility that was earned in a particular state and thus subject to state income taxes. See apportion. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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