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Mortgage Glossary
Mortgage Glossary
 
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A Apportionment
What does Apportionment mean?

When an individual enters into the deal of buying or even renting a property, he/she needs the peace of mind that he will pay only for his part of duties. Generally, paying for gas or electricity and certain tax related issues are subject to apportionment. These all constitute obligations which must be “apportioned”, so that each party (seller-buyer) pays only for his own share of duties. Usually apportionment occurs whenever the process of sale is being completed, and it is the duty of a solicitor to complete this task.
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