Quick Answer: What Does Abatement Mean In Construction?

What is an abatement process?

Abatement (or removal) is the process by which teams painstakingly eliminate the asbestos from the home to ensure the property’s ongoing safety. To help guide you as you consider the abatement option, we’ll highlight what abatement involves and the steps required to safely remove asbestos from the property.

What is abatement mean?

Abatement is a reduction in, or an exemption of, the level of taxation faced by an individual or company. Examples of an abatement include a tax decrease, a reduction in penalties or a rebate.

What is the legal definition of abatement?

Abatement, in law, the interruption of a legal proceeding upon the pleading by a defendant of a matter that prevents the plaintiff from going forward with the suit at that time or in that form. The term abatement is also used in law to mean the removal or control of an annoyance.

What does abated mean in the dictionary?

to reduce in amount, degree, intensity, etc.; lessen; diminish: to abate a tax; to abate one’s enthusiasm. Law. to put an end to or suppress (a nuisance). to suspend or extinguish (an action).

What does abatement cost mean?

Abatement costs refer to expenditures which reduce the direct pressures on natural assets (for example from air emissions or waste disposal). Context: Ideally, imputed abatement costs should always be calculated as the sum of direct and indirect cost effects of additional prevention measures.

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What is a rental abatement?

A rent abatement is an agreement between the landlord and the tenant that provides a period of free rent. During the abatement period, you are not required to pay rent to occupy your space. Some commercial leases also provide rent abatement in the event that offices cannot be occupied due to repairs or maintenance.

What is abatement insurance?

Abatement — the act or process of diminishing the presence of a pollutant (e.g., asbestos or lead) in either degree or intensity.

What is property tax abatement definition?

Tax abatement programs reduce or eliminate the amount of property tax homeowners pay on new construction, rehabilitation and/or major improvements. You can buy a property that already has an abatement, or you can purchase an eligible property, make the required improvements, and apply for the abatement yourself.

What is abatement pollution?

Pollution abatement refers to technology applied or measure taken to reduce pollution and/or its impacts on the environment. The most commonly used technologies are scrubbers, noise mufflers, filters, incinerators, waste—water treatment facilities and composting of wastes.

What does abatement date mean?

Abatement means action by an employer to comply with a cited standard or regulation or to eliminate a recognized hazard identified by OSHA during an inspection. 1903.19(b)(2) Abatement date means: 1903.19(b)(2)(i)

What does asset mean?

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company’s balance sheet and are bought or created to increase a firm’s value or benefit the firm’s operations.

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What counsel means?

Counsel as a verb means to advise; as a noun, it means the person doing the advising (such as an attorney) or the advice itself. Less commonly, counsel means guarded thoughts or advice. Counselor is another word for the noun form of counsel, or adviser.

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