The term "apportum" refers to the revenue or profit that an asset generates for its owner. Historically, it was used in contexts such as pensions, rents, or tributes. In modern legal terms, apportum can also describe income derived from rights associated with incorporeal hereditaments, which are non-physical assets like intellectual property or certain types of leases.
Apportum is primarily used in property law and financial contexts. It may arise in discussions about income generated from various rights, such as leases or pensions. Legal practitioners might encounter this term in civil law cases involving property disputes or financial agreements. Users can manage related forms or procedures using templates provided by services like US Legal Forms.
Here are a couple of examples of abatement:
Example 1: A landlord receives monthly rent payments from tenants. The rent is considered apportum as it is the income derived from the property owned by the landlord.
Example 2: An individual receives a pension payment from a former employer. This pension represents apportum, as it is profit derived from the right to receive income after retirement.
Examples of state differences (not exhaustive):
| State | Variation in Use |
|---|---|
| California | Apportum may be specifically addressed in property tax laws. |
| New York | Income derived from certain rights may have different tax implications. |
| Texas | Legal definitions around property rights may influence how apportum is treated. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Income | Money received, especially on a regular basis. | Apportum is specifically tied to profits from assets or rights. |
| Revenue | The total income generated by a business or asset. | Apportum refers to the profit specifically attributed to ownership. |
If you believe apportum applies to your situation, consider the following steps:
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Apportum refers to the income or profit derived from the ownership of an asset.