The abandonment of residence refers to the act of leaving one’s home or property without any intention of returning or maintaining it. This can occur due to various reasons such as financial difficulties, foreclosure, divorce, or personal circumstances. When a property is abandoned, it may become neglected, deteriorate, or attract squatters and vandals. In legal terms, abandonment of residence can have implications on property ownership, tax obligations, and the rights of creditors. It is important for property owners to understand the legal consequences and take appropriate actions to protect their interests.
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This glossary post was last updated: 12th April 2024.
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