A B C D
E F G H
I J K L
M N O P
Q R S T
U V W Z


Abatement:

A reduction in some amount that is owed, usually granted by the person to whom the debt is owed. In estate law, the word may refer more specifically to a situation where property identified in a will cannot be given to the beneficiary because it had to be sold to pay off the deceased's debts. Debts are paid before gifts made in wills are distributed and where a specific gift has to be sold to pay off a debt, it is said to "abate."


The Legal Dictionary has taken steps to ensure that all legal, law, and court terms contained in our legal dictionary are correct. If you feel that the definition of any of our law or legal related terms is not correct please contact us. Please consult a lawyer with any legal questions regarding these terms, this site is not intended to replace consulting a lawyer.



Copyright The Online Legal Dictionary
2003-2004. All right are reserved.