Owelty - Definition - Law Dictionary Home Dictionary Definition owelty

owelty

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pl: -ties
[Anglo-French oelté equality, from Latin aequalitat- aequalitas]
: a lien created or a pecuniary sum paid by order of the court to effect an equitable partition of property (as in divorce) when such a partition in kind would be impossible, impracticable, or prejudicial to one of the parties [an award]