owelty

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 of the more valuable, to equalize the exchange
@ owelty of partition
A sum of money paid by one of two coparceners or co-tenants to the other, when a partition has been effected between them, but, the land not being susceptible of division into exactly equal shares, such payment is required to make the portions respectively assigned to them of equal value. The power to grant owelty has been exercised by the courts of equity from time immemorial
@ owelty of services
In the feudal law, the condition obtaining when there is lord, mesne, and tenant, and the tenant holds the mesne by the same service that the mesne holds over the lord above him
@

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • 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 …   Law dictionary

  • 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 — 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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