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owelty

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Legal Dictionary

Main Entry: ow·el·ty
Pronunciation: 'O-&l-tE
Function: noun
Inflected Form: plural -ties
Etymology: 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 owelty award>
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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