A pro-rated division and distribution of prepaid or accrued taxes, prepaid insurance premiums, prepaid rents and other income and expenses. Apportionment usually occurs when a property is sold, and is the manner of determining the amounts due to and from the parties.
Apportionment deals with the issue of dividing items of value among a group of people who desire them. Apportionment may include division of discrete objects, as in the division of seats of a representative government among districts, or may involve division of continuous objects such as dividing a cake among a group of people. In addition, topics such as estate division combine division of both discrete and continuous objects. Apportionment represents an aspect of both fair division as well as an aspect of election theory.
The division of income in proportionate shares between certain beneficiaries, calculated on a day-to-day basis
A method for determining how much will be contributed by each company toward a loss covered under more than one policy. A typical apportionment clause provides that the company will pay no more than the same proportion of the loss that its policy limit bears to the total amount of insurance.
The division of a liability or benefit in proportion to the interests of the parties. Tenants in a multi occupancy property may be charged rates or service charges in proportion to the floor area occupied, for example - Apportionment Acts 1834, 1870
Registration based on a proportional payment of registration fees, whether determined by a quotient of miles traveled, revenue received, average presence, or any other similar method.
The division of a benefit, or liability proportionate to the interests of the various parties concerned. The process is used for example to determine how the amount pf rent, rates, services charges and other costs are to be borne between the landlord and the tenants.
Division of the State into districts from which representatives are elected.
The division of loss among insurers when two or more cover the same loss.
allotment, usually of a sum of money such as a rent or a tithe payment, between a number of beneficiaries in the proportion due to them.
A proportionate division of all or part of the liability in a case between two or more sources of disability for the same claimant.
The dividing of a loss proportionately among two or more insurers that cover the same loss.
A law that refers to a statutorily prescribed division or assignment of funds based upon prescribed formulas in the law and consists of dividing authorized obligation authority for a specific program.
The method of dividing a loss among insurers in the same proportions as their participation when two of more companies cover the same loss. (G)
Also known as adjustment. The division of responsibility for certain costs between the parties to a transaction, such as realty taxes. In many U.S. jurisdictions, the vendor is responsible for the day of closing and all days prior to it.
The division of liability for property tax, water charges etc between the buyer and seller of a property.
The division of an amount in some recognised proportion, e.g., in cargo insurance where several packages are insured for their global value, or in property insurance where two or more insurers must contribute to a loss.
The division and distribution of something into proportionate parts; to each according to their share. For example, if a court ordered apportionment of a contract, the party would be required to perform only to a extent equal to the performance of the other side.
The proportionate sum of money that a person must contribute or is entitled to receive. For example, on completion of the sale of a leasehold property, it will usually be necessary to apportion the rent and service charge due to the landlord between the buyer and seller up to the date of the sale and thereafter, so that it is shared fairly between them.
A pro-rated division and distribution of prepaid or accrued taxes, prepaid insurance premiums, prepaid rents and other income and expenses. When a property is sold, apportionment is used to distribute or collect funds due from the buyer and seller for income and expenses.
Periodic outgoings such as gas, telephone business rates and rent are paid in advance or arrears. Where a property changes hands during a period of account, the seller will recover a proportion of any advance payments and pay to the buyer a proportion of any payments due in arrears. Payments are usually apportioned on a time basis.
Division or assignment based on a plan or proportion as in prorating property expenses such as insurance and taxes between the buyer and seller.
The method of dividing a loss between multiple insurers that cover the same loss.