abandonment

abandonment
See abandoner.

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      in Anglo-American property law, the relinquishment of possession of property with an intent to terminate all ownership interests in that property. Abandonment may occur by throwing away the property, by losing it and making no attempt to retrieve it, by vacating the property with no intention of returning to it, or by any other act manifesting a complete disclaimer of ownership in the property. The general effect of abandonment is to give full ownership of the property to the first taker.

      In the French and civil-law systems, the term abandonment is more technical and means the surrender by a debtor of his property to be used in satisfaction of claims by his creditors.

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Universalium. 2010.

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  • abandonment — The surrender, relinquishment, disclaimer, or cession of property or of rights. Voluntary relinquishment of all right, title, claim and possession, with the intention of not reclaiming it. State v. Bailey, 97 N. J.Super. 396, 235 A.2d 214, 216.… …   Black's law dictionary

  • abandonment — [[t]əbæ̱ndənmənt[/t]] 1) N UNCOUNT: oft N of n The abandonment of a place, thing, or person is the act of leaving it permanently or for a long time, especially when you should not do so. ...memories of her father s complete abandonment of her. 2) …   English dictionary

  • abandonment — controlling party giving up rights to property voluntarily. Bloomberg Financial Dictionary Allowing an option to expire unexercised. Also, withdrawal from a cancellable forward contract to purchase securities. Exchange Handbook Glossary * * *… …   Financial and business terms

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