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Legal Dictionary Term: abatement

Home Legal Dictionary Term: abatement

Legal Dictionary Term: abatement

What is abatement?

n. 1) the removal of a problem which is against public or private policy, or endangers others, including nuisances such as weeds that might catch fire on an otherwise empty lot; 2) an equal reduction of recovery of debts by all creditors when there are not enough funds or assets to pay the full amount; 3) an equal reduction of benefits to beneficiaries (heirs) when an estate is not large enough to pay each beneficiary in full.

Keywords for abatement:

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abatement Information

Date Approved: Apr 16, 2019

Viewed: 496 x

Last Viewed: Jul 6, 2022

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