noun priv·i·ty \ˈpri-və-tē\
plural priv·i·ties

Definition of PRIVITY

a :  a relationship between persons who successively have a legal interest in the same right or property
b :  an interest in a transaction, contract, or legal action to which one is not a party arising out of a relationship to one of the parties
:  private or joint knowledge of a private matter; especially :  cognizance implying concurrence

Origin of PRIVITY

Middle English privite privacy, secret, from Anglo-French priveté, from Medieval Latin privitat-, privatas, from Latin privus private — more at private
First Known Use: 1523


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