Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Severance
n. 1. The act of cutting off; the state of being cut off. 2. The separation of claims, by the court, of multiple parties either to permit separate actions on each claim or to allow certain interlocutory orders to become final. -Also termed severance of actions; severance of claims. Cf. bifurcated trial under TRIAL. 3. The termination of a joint tenancy, usu. by converting it into a tenancy in common. 4. The removal of anything (such as crops or minerals) attached or affixed to real property, making it personal property rather than a part of the land. - sever, vb. - severable, adj. severance damages. See DAMAGES,
severance damages
In a condemnation case, damages awarded to a property owner for diminution in the fair market value of land as a result of severance from the land of the property actually condemned; compensation awarded to a landowner for the loss in value of the tract that remains after a partial taking of the land.
severance of actions
See SEVERANCE (2)
severance of claims
See SEVERANCE (2).
severance pay
Money (apart,from back wages or salary) paid by an employer to a dismissed employee. ( Such a payment is often made in exchange for a release of any claims that the employee might have against the employer. -Also termed separation pay; dismissal compensation.
severance tax
A tax imposed on the value of oil, gas, timber, or other natural resources extracted from the earth.