- The allocation of a loss between all of the insurance companies that insure a piece of property. This allocation is used to determine a percentage of liability for each insurer. For example, three insurers who each cover $30,000 on a $90,000 property are each apportioned a third of the claim if the property is destroyed. Apportionment can also refer to the distribution of economic benefit.
Apportionment has a slightly different application for real estate. In this case, it refers to the allocation of property expenses such as insurance and taxes between the buyer and seller. Apportionment can also describe the division of property between tenants in common.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
apportionment — I noun administration, allocation, allotment, allowance, assignment, assignment in proportion, consignment, disposition, distribution, division, division in proportion, doling out, issuance, just division, measuring out, meting out, partition,… … Law dictionary
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apportionment — (n.) 1620s, from APPORTION (Cf. apportion) + MENT (Cf. ment). Perhaps influenced by Fr. apportionnement … Etymology dictionary
apportionment — [ə pôr′shənmənt] n. 1. an apportioning or being apportioned 2. a proportional distribution or assignment, as of U.S. Representatives among the states, or of state legislators among counties, etc … English World dictionary
Apportionment — This article is about apportionment in law. See also apportionment (politics) The legal term apportionment (French apportionement; Med. Latin apportionamentum; derived from Latin portio , share) means distribution or allotment in proper shares.… … Wikipedia
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apportionment — A method of calculating the proportion of input tax applicable to business use, if goods or services are used for business and non business purposes. HM Customs & Revenue Glossary * * * apportionment ap‧por‧tion‧ment [əˈpɔːʆnmənt ǁ ɔːr ] noun… … Financial and business terms
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apportionment — In the general sense, distribution for planning of limited resources among competing requirements. Specific apportionments (e.g., air sorties and forces for planning) are described as apportionment of air sorties and forces for planning, etc. See … Military dictionary