What does Apportionment mean?
Apportionment stands for the dividing, allotting, or distributing of property in the proper way. The manner of where this term is used in law, for example, can be in a variety of cases, all depending on the situation itself.
Different Types of Apportionment
Apportionment can happen in the case of an estate, or living quarters. For example, if a renter can no longer pay the homeowner or if he is evicted from the property, he can be required by law to pay the apportioned amount of money owed to the property owner.
Apportionment can also be distributed by a living will to the family of the deceased, where the will states which amounts of money or property are to be apportioned to the family, and how much is to be distributed for each.
In the realm of economics, apportionment can be seen in the division or carrying out of a specified plan or formula.
In the realm of accounting, one might see apportionment as an equal division of expenses or payments in the case of two or more accounts or cases.
In the realm of law, apportionment ca be seen as the division of rights or interests of the specified parties, or the division of liabilities or assets to those involved.