“equity”
This page shows official legal definitions of “equity” from courts and ministries of justice in multiple countries. Definitions are listed in order of reading level to help with both basic understanding and deeper context.
Australia
|
1. Fairness. A system of legal rules developed by the Lord Chancellor and special courts in England to make the common law fairer. 2. A financial interest in property or goods.
|
||
United States
|
The value of a debtor's interest in property that remains after liens and other creditors' interests are considered. (Example: If a house valued at $60,000 is subject to a $30,000 mortgage, there is $30,000 of equity.).
|