PROPERTY

A 30-day notice is a written letter from tenant to landlord or landlord to tenant informing the other party of their intent to terminate or change a month-to-month or other periodic

Ab intestato is a Latin term meaning "by intestacy." The term refers to laws governing the succession of property after the previous owner of the property dies without a valid will.

[Last reviewed in June of 2022 by the Wex Definitions Team]

• Latin terms

AB trust (also called a bypass trust or a credit shelter trust) is a tool often used by well-off married individuals to legally maximize their estate tax exemptions. 

Abandon refers to the act of abandonment. A party can “abandon” in multiple fields of law and abandoning generally, though not always, involves voluntarily giving up a right.

See abandonment for more information. 

[Last reviewed in June of 2022 by the Wex Definitions Team]

An “abandoned application” refers to the abandonment of a patent or trademark application.  An application is removed from the docket of pending applications at the U.S.

• patent law

Abandoned property is personal property that was left by an owner who intentionally relinquishes all rights to its control.  Real property may not be abandoned (see also adverse possession).

• property law
• personal property

Abandonment is a term that generally refers to a voluntary parting or the discarding of an object with no intent to return or reclaim the item. However, it varies in application across different areas of the law.

Abandonment of a trademark occurs when the owner of the trademark deliberately ceases to use the trademark for three or more years, with no intention of using the trademark again in the future.

Abatement is the act of reducing or nullifying something. Multiple subjects throughout law are subject to abatement and the term appears in many locations.

An abatement clause is defined as a provision in a lease agreement that releases the tenant from paying rent if an act of God makes occupancy impossible or otherwise precludes the property from being used.

See also: Abatement

• property