Dereliction (noun)

1. The state of being abandoned or neglected, especially in reference to a building or other property.
2. The act of abandoning or neglecting something, especially a duty or responsibility.

Origin:

From latin derelictio, meaning "abandonment, neglect".

Examples:

1. The building was in a state of dereliction, having been abandoned for years.
2. The dereliction of duty by the company's management led to the failure of the project.
3. The dereliction of the ship was caused by a lack of maintenance.
4. It is a dereliction of your duty to not take the safety of your employees seriously.
5. The dereliction of the property is a sign of the owner's neglect.