DEFINITION of 'Abeyance Order'
An order that is temporarily placed on hold or held in suspension, due to prevailing circumstances, until it can be fulfilled. In advertising, an abeyance order refers to an order from an advertiser for a media slot on television or radio that is temporarily unavailable. As a result, the order may be held in abeyance until a suitable advertising slot opens up.
BREAKING DOWN 'Abeyance Order'
In the legal context, an abeyance order generally refers to an order used in bankruptcy proceedings where the court declares that a claim on a property is held in abeyance. This can occur, for example, if the rightful owner or the holder of the mortgage on a property cannot be clearly identified. This situation was not uncommon after the U.S. housing market collapse from 2008 onwards.