beneficiaryâs share of inside basis in partnership assets and his outside basis in the partnership interest. An optional basis adjustment can increase the partnershipâs basis in property transferred upon a partnerâs death to its estate tax value. The Economic Growth
â¢ AVERMENT (noun). The noun AVERMENT has 1 sense: 1. a declaration that is made emphatically (as if no supporting evidence were necessary). Familiarity information: AVERMENT used as a noun is very rare.
Related Terms: Affidavit. A positive statement of facts as opposed to an argumentative or inferential one.. Any party who files, or defends a claim in a court of law must set out the facts which support the claim or the defence. Lawyers often refer to these as allegations of fact, assertions of truth or, more technically, pleadings or averments. Mozley and Whiteley's Law Dictionary : It is traditional for the courts to demand averments which are succinct, written simply and to the point, and not in literary, flowery or poetic style.