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abandonment

 
Sci-Tech Dictionary: abandonment
 
(ə′ban·dən·mənt)

(mining engineering) Failure to perform work, by conveyance, by absence, and by lapse of time, on a mining claim.
(petroleum engineering) abandonment contour


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Investment Dictionary: Abandonment
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1. The act of surrendering a claim to, or interest in, a particular asset.

2. The permitted withdrawal from a forward contract that is made for the purchase of deliverable securities.

3. The act of allowing an option to expire unexercised.

Investopedia Says:
1. Corporations will generally abandon assets or projects that no longer offer any profitability. In most instances, proper legal documents must be filed with authorities and any damages must be recouped.

2. Abandonment occurs in forward contracts that permit the purchasers to withdraw from the contract, rather than purchase the deliverable securities.

3. In many instances, an option may not be worthwhile or profitable to exercise and, therefore, the purchaser of the option will let the option expire without being exercised.

Related Links:
An introduction to the world of options, covering everything from primary concepts to how options work and why you might use them. Options Basics Tutorial


 

Voluntarily giving up all rights, title, or claims to property that rightfully belongs to the owner. An example of abandoned property would be stocks, bonds, or mutual funds held in a brokerage account for which the firm is unable to locate the listed owner over a specified period of time, usually a few years. If ruled to be abandoned, the property may revert to the state under the laws of Escheat. In addition to financial assets, other kinds of property that are subject to abandonment include patents, inventions, leases, trademarks, contracts, and copyrights.

 
Real Estate Dictionary: Abandonment
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The voluntary surrender of property, owned or leased, without naming a successor as owner or tenant. The property will generally revert to one holding a prior interest or, in cases where no owner is apparent, to the state. Abandonment does not relieve obligations associated with lease or ownership unless the abandonment is accepted by the entity to which the obligation is owed.
Example: Abel owns a dilapidated apartment house with 2 years' delinquent property taxes. Rather than pay the back taxes, Abel abandons the building by disclaiming ownership.

 
Thesaurus: abandonment
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noun

  1. The act of forsaking: desertion. See keep/release.
  2. A giving up of a possession, claim, or right: abdication, demission, quitclaim, relinquishment, renunciation, resignation, surrender, waiver. See keep/release.
  3. A complete surrender of inhibitions: abandon, incontinence, unrestraint, wantonness, wildness. See restraint/unrestraint.

 
Antonyms: abandonment
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n

Definition: renunciation
Antonyms: adoption


 
Philosophy Dictionary: abandonment
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Term used by existentialists to dramatize the sense of loss that comes from realizing that there is no external source of moral authority, such as a God.

 
Columbia Encyclopedia: abandonment
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abandonment, in law, voluntary, intentional, and absolute relinquishment of rights or property without conveying them to any other person. Abandonment also means willfully leaving one's spouse or children, intending not to return (see desertion). In many states the abandonment of a child is a criminal offense.


 
Law Encyclopedia: Abandonment
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This entry contains information applicable to United States law only.

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.

The giving up of a thing absolutely, without reference to any particular person or purpose, as vacating property with the intention of not returning, so that it may be appropriated by the next comer or finder. The voluntary relinquishment of possession of thing by owner with intention of terminating ownership, but without vesting it in any other person. The relinquishing of all title, possession, or claim, or a virtual, intentional throwing away of property.

Term includes both the intention to abandon and the external act by which the intention is carried into effect. In determining whether one has abandoned property or rights, the intention is the first and paramount object of inquiry, for there can be no abandonment without the intention to abandon.

Abandonment differs from surrender in that surrender requires an agreement, and also from forfeiture, in that forfeiture may be against the intention of the party alleged to have for- feited.

Property That Can Be Abandoned

Various types of personal property—such as personal and household items—contracts, copyrights, inventions, and patents can be abandoned. Certain rights and interests in real property, such as easements and leases, may also be abandoned. A ranch owner, for example, gives a shepherd an easement to use a path on her property so that the sheep can get to a watering hole. The shepherd later sells his flock and moves out of the state, never intending to return. This conduct demonstrates that the shepherd has abandoned the easement, since he stopped using the path and intends never to use it again. Ownership of real property cannot be obtained because someone else abandoned it but may be gained through adverse possession.

Elements of Abandonment

Two things must occur for property to be abandoned: (1) an act by the owner that clearly shows that he or she has given up rights to the property; and (2) an intention that demonstrates that the owner has knowingly relinquished control over it.

The Act

Some clear action must be taken to indicate that the owner no longer wants his or her property. Any act is sufficient as long as the property is left free and open to anyone who comes along to claim it.

Inaction—that is, failure to do something with the property or nonuse of it—is not enough to demonstrate that the owner has relinquished rights to the property, even if such nonuse has gone on for a number of years. A farmer's failure to cultivate his or her land or a quarry owner's failure to take stone from his or her quarry, for example, does not mean that either person has abandoned interest in the property.

The Intention

A person's intention to abandon his or her property may be established by express language to that effect or may be implied from the circumstances surrounding the owner's treatment of the property, such as leaving it unguarded in a place easily accessible to the public.

The passage of time, although not an element of abandonment, may illustrate a person's intention to abandon his or her property.

 
Wikipedia: Abandonment
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Look up abandonment in Wiktionary, the free dictionary.
Abandoned houses in Seacroft, Leeds, UK

The term abandonment has a multitude of uses, legal and extra-legal. This "signpost article" provides a guide to the various legal and quasi-legal uses of the word and includes links to articles that deal with each of the distinct concepts at greater length.

Abandonment, in law, is the relinquishment or renunciation of an interest, claim, privilege, possession or right, especially with the intent of never again resuming or reasserting it. Such intentional action may take the form of a discontinuance or a waiver. This broad meaning has a number of applications in different branches of law.

In common law jurisdictions, both common law abandonment and statutory abandonment of property may be recognized. Common law abandonment may be generally defined as "the relinquishment of a right [in property] by the owner thereof without any regard to future possession by himself or any other person, and with the intention to foresake or desert the right...."[1] Common law abandonment is "the voluntary relinquishment of a thing by its owner with the intention of terminating his ownership, and without [the intention of] vesting ownership in any other person; the giving up of a thing absolutely, without reference to any particular person or purpose...."[2] (emphasis added) [footnotes and citations omitted]. An example of statutory abandonment in a common law jurisdiction is abandonment by a bankruptcy trustee under 11 U.S.C. § 554). In Scots law, failure to assert a legal right in a way that implies abandonment of it is called taciturnity.

Abandoned chimney stack in industrial area, Edmonton, Alberta, Canada.
  • In respect of property, intentional abandonment is also referred to as dereliction, and something voluntarily abandoned by its owner with the intention of not retaking it is a derelict. Someone that holds or claims abandoned property is an abandonee. A piece of abandoned land is a relinquishment. A res nullius abandoned by its owner, leaving it vacant, belongs to no one. Occupying an abandoned empty house without permission is squatting.
  • Abandonment of an easement is the relinquishment by a nonuser, for a specified period, of some accommodation or right in another's land, such as right of way or free access of light and air.
  • Abandonment of domicile occurs when one ceases to reside permanently in a former domicile, coupled with the intention of choosing a new domicile. The presumptions which will guide the court in deciding whether a former domicile has been abandoned or not must be inferred from the facts of each case. In the United States, a tenant is generally understood to have abandoned a property if he or she has fallen behind in rent and shown a lack of interest in continuing to live there. The landlord must then send notice of the intent to sell the property and wait a certain number of days to take action on it. How long the landlord has to wait depends on the value of the property. The landlord can keep the money up to the costs incurred as a result of the abandonment; the rest must be set aside for the former tenant, should she or he eventually return.
  • In regard to property insurance, abandonment occurs when the insured surrenders to the insurer all rights to damaged or lost property and claims payment for a total loss. Sometimes, this is permitted only when damage constitutes constructive total loss. In marine insurance parlance, abandonment involves the surrender of a ship or goods to the insurer, who becomes the abandonee. Abandonment can also mean refusal to accept from a delivering carrier a shipment so damaged in transit as to be worthless.
  • In the domain of copyright, abandonment is recognized as the explicit release of material by a copyright holder into the public domain. However, statutory abandonment is a relatively unclear area of copyright law and the more common approach is to license work under a scheme that provides for public use rather than strictly abandoning copyright. For more information consult "disclaimer of interest".
  • Abandonment of trademark is understood to happen when a trademark is not used for three or more years, or when it is deliberately discontinued; trademark law protects only trademarks being actively used and defended. An example of an abandoned trademark is aspirin, once a mark of the Bayer company, now considered a generic term.
  • In patent law, abandonment is relinquishment by an inventor of the right to secure a patent, in such a way as to constitute a dedication of the invention to public use.
  • In transport regulation, abandonment is permission sought by or granted to a carrier by a state or federal agency to cease operation of all or part of a route or service. Abandonment of railways has a legal signification in England recognized by statute, by authority of which the Board of Trade may, under certain circumstances, grant a warrant to a railway authorizing the abandonment of its line or part of it.
  • In family law, desertion refers to intentional and substantial abandonment, permanently or for a period of time stated by law, without legal excuse and without consent, of one's duties arising out of a status such as that of husband and wife or parent and child. It can involve desertion of a spouse with the intention of creating a permanent separation. Desertion of one spouse by the other without just cause is called malicious abandonment. Child abandonment is often recognized as a crime, in which case the child is usually not physically harmed directly as part of the abandonment; distinct from this is the widely recognized crime of infanticide. Child abandonment is also called exposure or exposition, especially when an infant is left in the open.
  • Abandonment of a patient, in medicine, occurs when a health care professional (usually a physician, nurse, dentist or paramedic) has already begun emergency treatment of a patient and then suddenly walks away while the patient is still in need, without securing the services of an adequate substitute or giving the patient adequate opportunity to find one. It is a crime in many countries and can result in the loss of one's license to practice. Also, because of the public policy in favor of keeping people alive, the professional cannot defend himself or herself by pointing to the patient's inability to pay for services; this opens the medical professional to the possibility of exposure to malpractice liability beyond one's insurance coverage.

Notes

  1. ^ 1 Corpus Juris Secundum “Abandonment” § 2 (1985) (emphasis added) [footnotes and citations omitted].
  2. ^ Id.

 
 

 

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Law Encyclopedia. West's Encyclopedia of American Law. Copyright © 1998 by The Gale Group, Inc. All rights reserved.  Read more
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