Provision in a lease agreement that releases the tenant from paying rent if an act of God makes occupancy impossible or otherwise precludes the property from being used.
See alsoAbatementlandlord & tenant
Abatement Clause
Definition
Adverse Possession
Overview
Adverse possession is a doctrine under which a person in possession of land owned by someone else may acquire valid title to it, so long as certain common law requirements are met, and the adverse possessor is in possession for a sufficient...
Affirmative Waste
See voluntary waste.
Ameliorative Waste
In property law, refers to a situation where a tenant makes repairs and improvements on property that increase the value of the property, but, did not ask permission of the landowner or any future interest holders to make these improvements.
Assignee
A person to whom a property right is transferred by the person holding such rights under contract (the “assignor”). The act of transferring is referred to as “assigning” or “assignment” and is a concept used in contract and property law.
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Assignment
Assignment is a legal term whereby an individual, the “assignor,” transfers rights, property, or other benefits to another known as the “assignee.” This concept is used in both contract and property law. The term can refer to either the act of...
Assignment for Benefit of Creditors
Assignment for the benefit of the creditors (ABC)(also known as general assignment for the benefit of the creditors) is a voluntary alternative to formal bankruptcy proceedings that transfers all of the assets from a debtor to a trust for...
Assume
To assume means to undertake. Generally, in legal contexts, to assume means to take over a certain duty or responsibility. For example, Alice may assume Bob’s liability for a debt (Alice may take over Bob’s debt).
In...
Assumption
An assumption is an assertion or statement that is taken as true or supposed as a fact without proof or substantiating evidence. An assumption may also be the act of taking over (another individual or entity’s) duty or responsibility.
...Bailment
A 'bailment' is a non-ownership transfer of possession. Under English Common Law, the right to possess a thing is separate and distinct from owning the thing. In some jurisdictions, an owner of an object can steal his own property, a curious result of...