Abandon

Business, Legal & Accounting Glossary

Definition: Abandon


Abandon

Quick Summary of Abandon


To intentionally surrender one’s claim to, right to, or interest in; give up entirely. Used in situations where a tenant has left property in a residence and does not intend to return. The landlord can take over the abandoned residence but must store the property, providing notice to the tenant before selling the possessions that were left behind. Also can be used when support has not been provided to children for a year or more.




What is the dictionary definition of Abandon?

Dictionary Definition


Cease to support or look after (someone); desert.

  1. transitive, obsolete To subdue; to take control of.
  2. transitive To give up control of, to surrender or to give oneself over, or to yield to one’s emotions.
  3. transitive To desist in doing, practising, following, holding, or adhering to; to turn away from; to permit to lapse; to renounce; to discontinue.

Full Definition of Abandon


  1. To choose not to exercise or sell an option. Abandonment occurs when the option is out of the money on the expiration date.
  2. To voluntarily relinquish the rights of property ownership, usually real estate.

To intentionally and permanently give up, surrender, leave, desert or relinquish all interest or ownership in property, a home or other premises, a right of way, and even a spouse, family, or children. The word is often used in situations to determine whether a tenant has left his/her apartment and the property inside and does not intend to come back. Thus, a landlord can take over an apparently abandoned residence, but must store anything a tenant leaves behind and give notice to the tenant before selling the possessions which are left. To abandon children can mean to have no contact and give no support for a year or more.


Examples of Abandon in a sentence


We had decided to abandon with regards to our position on the options contract since our investment decisions were being made by the CFO.

You may find that you just have to abandon a project when the time comes that you realize it’s a sunk cost.

We could not abandon the project yet, because there was still so much left to do and a lot of people were working hard on it.


Related Phrases


time stop
negative carry pair
abandonment clause
abandonment option
bullish abandoned baby
bearish abandoned baby
abandoned call
abandonment


Abandon FAQ's


What does Abandon mean in Law?

To intentionally surrender one’s claim to, right to, or interest in; give up entirely. Used in situations where a tenant has left property in a residence and does not intend to return. The landlord can take over the abandoned residence but must store the property, providing notice to the tenant before selling the possessions that were left behind. Also can be used when support has not been provided to children for a year or more.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/abandon/
Modern Language Association (MLA):
Abandon. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
January 18, 2022 https://payrollheaven.com/define/abandon/.
Chicago Manual of Style (CMS):
Abandon. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/abandon/ (accessed: January 18, 2022).
American Psychological Association (APA):
Abandon. PayrollHeaven.com. Retrieved January 18, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/abandon/

Definition Sources


Definitions for Abandon are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 5th December, 2021 | 0 Views.