Severance
/ˈsɛv(ə)rəns/
Definitions
- (n.) The act or result of ending or dismissing a contractual or employment relationship, often involving payment or compensation for termination.
The employee received a severance package upon termination.
- (n.) The division or splitting of property, liability, or interests into separate parts, especially in legal claims or property law.
Severance of joint tenancy converted the property into tenants in common.
Related terms
See also
Commentary
In employment contexts, severance typically implies agreed compensation upon termination; in property or procedural contexts, it refers to legal splitting or division. Drafting should distinguish between these uses clearly.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.