ABIBLO LAW - ABATEMENT
Abiblo Law - Abatement
It is the proportionate reduction in the debt payment which take places if a person's assets are not enough to settle with the creditor in full.
The cancellation or reduction of the legacies if a solvent estate is not enough to cover all the legacies , provided for in the will or on intestacy after the payment of deceased debts.
The Administration Estates Act ( Sch 1 pt 11) includes that general legacies abate in proportion to the amount of those legacies unless given to satisfy the debt.
Demonstrative and specific legacies abate if the estate is still not sufficient to pay the debt.
A demonstrative legacy also abates if the specified fund is insufficient to cover it. For instance, A's estate may consists of a building, 5000 pound sterling in his saving account and 8000 pound sterling in other money. There are debts of 1000 pound sterling but his will leave behind building to B, 7000 pound sterling from the saving amount to C and 9000 pound sterling to D and 500 pound sterling to E.
B will receive the building, C demonstrative legacy abate to 5000 pound sterling and after the debts are paid from remaining money 8000 pound sterling, D's and E's general legacies abate proportionally. In case of any annuities given on the will, the rule is that they are valued on the date the testator died then proportionally abate in accordance with valuation. Each annuitant will receive the abated sum. These rules are subject to contrary intention being expressed in will.
In land law, abatement is any reduction or cancellation of a payable money. For instance, a lease may provide for a rent abatement in certain circumstances such as if the fire destroyed the building or purchaser of a land claim abatement of the price if it is proven that the seller can prove ownership of his only part of the land contracted to sell.
Abatement may also mean in case of nuisance, the destruction, removal or termination of a nuisance.
An injured person by nuisance has a right to abate it. He must not do more damage than necessary. If nuisance removal requires entry to the property from which it emanates, he will have to give notice to the wrongdoer. Abatement notice can be issued by local authority to control statutory nuisance.
Abatement of proceedings, It is the termination of the civil proceedings based on operation of law due to the change in status or interest ( bankruptcy / death ) of any party after the start but before the completion of proceedings.
Abatement will not prevent either of the parties from brining fresh proceedings in respect oof the similar cause of action.
There is abolishment of any pleas in abatements.
In modern practice, change in the interest or status will not affect the validity of proceedings provided the survival of the cause of action.
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