Severance (land)
From Wikipedia, the free encyclopedia
A severance can in law mean the act of severing a piece of land from a larger tract of land. The severed parcel of land becomes a separate lot (parcel). Second, it can refer to, in jurisdictions that have the form of co-ownership, the ending of a joint tenancy by act or event other than death. Third, it can be defined in a definitions clause or table in ways including the removal of a party from an agreement, or a permitted ending of the agreement (e.g. break clause) — in an employment contract/negotiations especially common as to severance pay and other terms of severance — or part of the agreement in which case it may be either capable of forming the heart of a new agreement, that is being superseded or instead varied to be non-binding (avoided) as to future conduct (see voidable contract) and the parties should ensure which meaning is meant in this third range of senses.
