owelty

noun
ow·​el·​ty | \ ˈō-əl-tē \
plural owelties

Legal Definition of owelty

: 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

History and Etymology for owelty

Anglo-French oelté equality, from Latin aequalitat- aequalitas

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Cite this Entry

“Owelty.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/owelty. Accessed 22 Sep. 2020.

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