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.
1 noun. 2  Averment in the Dictionary of Law consisting of Judicial Definitions and Explanations of Words, Phrases and Maxims. 3  French averer, to affirm as true: Latin ad, to; verum, truth. 4  A positive statement of the truth of a fact; a formal allegation in pleading. Note: This legal definition of Averment in the Dictionary of Law (English and American Jurisprudence) is from 1893.