Meaning of ABATEMENT in English

ABATEMENT

A reduction in some amount that is owed, usually granted by the person to whom the debt is owed. For example, a landlord might grant an abatement in rent . In estate law , the word may refer more specifically to a situation where property identified in a will cannot be given to the beneficiary because it had to be sold to pay off the deceased debts. Debts are paid before gifts made in wills are distributed and where a specific gift has to be sold to pay off a debt, it is said to "abate" (compare with " ademption ").

Duhaime's Law English dictionary.      Английский юридический словарь Duhaime .