abandonment


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Abandonment

Controlling party giving up rights to property voluntarily.

Abandonment

1. The act of fully and completely relinquishing ownership of some property or asset. One may abandon both tangible assets, such as tools or real estate, or intangible assets, such as patents or leases. For example, abandonment occurs when someone leaves his/her house empty, never intending to return or otherwise use the property. Legal abandonment sometimes requires filing declaration of intent to do so with the appropriate authorities. Sometimes, a person may obtain abandoned property for free, though this does not apply to real estate. See also: Adverse possession.

2. See: Expiration.

abandonment

abandonment

An intentional surrender, disclaimer, or termination of ownership with no stated intention regarding who the next owner should be. Legally requires some external evidence of an intention to abandon; simply neglecting property will not suffice. Differs from surrender, which requires that someone accept the property,and from forfeiture,which is unintentional loss of property.Abandoned property will generally revert to someone with a prior claim,such as an abandoned leasehold reverting to the landlord or an abandoned easement reverting to the landowner. Sometimes abandoned property will escheat to the state.
References in periodicals archive ?
Gordon stressed that while apology-which came two months after the sinking incident-was a 'step forward,' the abandonment should have been raised as this was more serious than the property damage matter.
To prepare for the chance of abandonment, the company prepared an internal abandonment report which has been reviewed by an independent will examiner.
The abandonment of the facility came with a huge cost, especially with the rising statistics of Lagosians, and indeed Nigerians, who are battling with various cardiac and renal diseases.
It is important that victims of forced marriage and abandonment know how to get help from abroad.
More than 120,000 abandonment plans are held in temperaturecontrolled rooms in its Mining Heritage Centre in Mansfield, Nottinghamshire.
"Working with DreamWorks on this series was, well, a dream," said Kyle Roberts, creative director of Reckless Abandonment Pictures.
He put forward the draft amendments suggesting various punishments for parent abandonment to public discussion.
Author Walker (2013) further states that trauma is a fight or flight response in outcome to attack or abandonment, felt so intensely that the person cannot turn it off once the threat is over.
THREE years on from the introduction by the Welsh Government of a law to address "fly-grazing", a new report shows it has had a positive impact in reducing the number of horses reported and removed due to fly-grazing straying or abandonment. The report, by Equiventus Ltd, shows a clear link between the reduction in this behaviour and the approach taken to the problem in Wales, including the swift introduction of the Control of Horses (Wales) Act 2014.
Although we know a lot about how meanings are created through interest, consumption and affiliation, remarkably little work has been done in the marketing field to understand cultural meanings spotlighted in consumers' discourses about their brand abandonment. Suarez and Chauvel (2012) define abandonment as the process of giving something up which was previously consumed.
Abandonment has a long presence in Western cultural, philosophical and legal canon, though most contemporary critical debates focus on its sovereign and juridico-political functions.
However, very few works consider the impacts of abandonment options on optimal investment decisions and profit sharing in cooperative games, especially in foreign direct investment.