There are multiple definitions - click on the translation that matches your context.

产权分割

名词

full

severance

noun

Definitions of severance

money paid to employees when they have to leave work because they are no longer needed or wanted

The reforms include cuts to both holiday benefits and severance pay.

the act of ending or separating something such as legal claims in a law suit between multiple parties

Rule 14 authorizes a severance where it appears that a defendant might be prejudiced (=harmed) by a joint trial.

the conversion of a joint tenancy (=a co-tenancy in which if one of the tenants dies the land is inherited by the other tenant) to a tenancy in common (=co-tenancy in which if one of the tenants dies, the land is inherited by the dead tenant's estate or heirs)

Nothing in this section authorizes severance of a joint tenancy contrary to a written agreement of the joint tenants.