Abatement Notice
Definition of "Abatement Notice"
To understand what an abatement notice is, one needs to understand the concept of nuisance abatement. Abatement notice is the notice given to the owner (or occupier) of a property as a warning that his or her house has infringed local ordinances or laws, and he or she must take the necessary measures to correct the violation, or else the process of abating whatever nuisance that property’s been causing to the community will begin. That is; if the owner or occupier doesn’t do the work, someone else is about to go inside the property or enter the premises and fix or replace whatever is causing the disturbance.
Abatement notices are issued by local agencies and are generally sent via certified or registered mail and fixated at the entryway of the house – usually about a month – before it actually gets into effect so the homeowner doesn’t claim he or she was unaware of it. The nuisance mentioned in the abatement notice might be required to be stopped altogether or just limited/reduced, when applicable. The abatement notice will also contain information on how to do that and correct the violation. Failure to comply with it will incur in multiple fines, and will especially become a burden for the homeowner if it’s a case of attractive nuisance. Some of the setbacks provoked by failing of complying include removal, repair or demolition, depending on the subject of the violation.
Real Estate Tip:
Let us go ahead and serve YOU an abatement notice: going about the housing process without a real estate agent is a big nuisance! Abate your losses and troubles by having one together with you!
Popular Real Estate Terms
A loan indemnified against default by the borrower. Such loans may be a mortgage loan insured by a standard mortgage insurance policy or by FHA mortgage insurance. In the event of the death ...
Unincorporated combination (roll-up) of limited partnerships in a real estate together as a group. It is usually more comprehensive, financially sound, and marketable than individual ...
The concept of a release can define various meanings in the financial and real estate business. Typically, it establishes a discharge or literal escape from a loan borrower's economic ...
The company is not responsible to a third party if an account or financial instrument is dishonored by the debtor. The creditor's recourse is solely to the debtor's property. An example is ...
An official indicating intensity of land use in a zoned urban area. ...
An agreement allowing occupancy of a premises for a stated period of time provided certain terms are met. A limited occupancy agreement is most frequently used when a prospective buyer is ...
Charitable gesture, such as when real estate is donated to a charity. The fair market value of the donated property may be tax deductible as a charitable contribution. ...
The meaning of a grace period refers to a specific time after a payment’s due date. During this period, one can reimburse the amount without penalty, extra costs, or forfeiture. Find ...
Legal lien on property on behalf of an individual who has not been paid for material furnished in constructing property. The material enhanced the value of the property, and as such the ...
Have a question or comment?
We're here to help.