owelty
ow·el·ty /'ō-əl-tē/ n 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 owelty award

Merriam-Webster’s Dictionary of Law. . 1996.

owelty
Under common law, an amount that one co-owner must pay to another after a lawsuit to partition real estate, so that each co-owner receives equal value from the property.
Category: Real Estate & Rental Property → Homeowners

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Owelty — Ow el*ty, n. [OF. oelt[ e], ivelt[ e].] (Law) Equality; sometimes written {ovelty} and {ovealty}. Burrill. [1913 Webster] …   The Collaborative International Dictionary of English

  • owelty — /owaltiy/ Equality; an equalization charge. This word is used in law in several compound phrases, as follows: @ owelty of exchange A sum of money given, when two persons have exchanged lands, by the owner of the less valuable estate to the owner… …   Black's law dictionary

  • owelty — ow·el·ty …   English syllables

  • owelty — Equality. A sum paid or secured, in the case of an actual partition of land in which the portions set off are not of equal value, by him who receives the more valuable portion to him who receives the lesser in value, for the purpose of equalizing …   Ballentine's law dictionary

  • owelty — ˈōəltē noun ( es) Etymology: Middle French oelté equality, from Latin aequalitat , aequalitas more at equality 1. : equality 2. a …   Useful english dictionary

  • allowance of owelty — See owelty …   Ballentine's law dictionary

  • ovealty — Owelty Ow el*ty, n. [OF. oelt[ e], ivelt[ e].] (Law) Equality; sometimes written {ovelty} and {ovealty}. Burrill. [1913 Webster] …   The Collaborative International Dictionary of English

  • ovelty — Owelty Ow el*ty, n. [OF. oelt[ e], ivelt[ e].] (Law) Equality; sometimes written {ovelty} and {ovealty}. Burrill. [1913 Webster] …   The Collaborative International Dictionary of English

  • exchange — To barter; to swap. To part with, give or transfer for an equivalent. Kessler v. United States, C.C.A.Pa., 124 F.2d 152, 154. To transfer goods or services for something of equal value. Rosenberg v. State, 12 Md.App. 20, 276 A.2d 708, 711. Act of …   Black's law dictionary

  • exchange — To barter; to swap. To part with, give or transfer for an equivalent. Kessler v. United States, C.C.A.Pa., 124 F.2d 152, 154. To transfer goods or services for something of equal value. Rosenberg v. State, 12 Md.App. 20, 276 A.2d 708, 711. Act of …   Black's law dictionary

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