owelty


Also found in: Legal.

owelty

(ˈəʊəltɪ)
n, pl -ties
(Law) law equality, esp in financial transactions
[C16: from Anglo-French owelté, ultimately from Latin aequalitas, from aequalis equal]
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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whether an award of owelty would be consistent with homestead rights.
allotment or owelty, a court may recognize that the best interests of
To even out the share values, courts impose equitable adjustments, such as payments of "owelty" or easements among the new parcels.(262) Physical division often proves impossible for a minority of the commoners or significantly diminishes the value of their shares.
The second appeal is known as the "owelty case," and involved an action for the difference in value between the land awarded to the Hopi Tribe and the land awarded to the Navajo Nation.