Legal Dictionary & Glossary

It's a free online legal dictionary search engine for definitions of legal terminology and legal words, legal abbreviations, and legal jargon you may meet when reading legal acts, law books, documents, legal forms and other legal content.

ABATEMENT

A diminution, decrease or easing of something; Abatement refers to a reprieve from or reduction in a debt, tax or other payment obligation faced by an individual or company.

In Real Estate, tax abatement is used by cities as an incentive to encourage the redevelopment of distressed areas by providing real Property tax abatement for 10 or 15 years.

Abatement of rent: If a building is destroyed by fire, flood or other accident, a renter usually granted abatement from making rental payments.

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