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Home FinanceA abandonment

abandonment

by economypedia

The action of relinquishing all title,rights of claims to an asset or property completely and intentionally by the legally owner to a next owner.

The abonnement could be with the tangible assets for example:

  1. Real estate.
  2. Machinery.
  3. Stock.
  4. Bonds.

And for the intangible assets such as:

  1. Patents.
  2. Trademarks.
  3. Franchises.
  4. Goodwill.
  5. Copyrights.

Elements of Abandonment

1. Act- abandonment must be done actually, through physical manifestations and not merely verbal or mental.

2. Intention- the intention to abandon must be present. It must be voluntary and not forced.

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