owelty in a sentence
n.
📚 Grade Level: Grade 11, Grade 12
Definition
Owelty is a legal term referring to a monetary payment made to equalize the division of property between parties, often used in divorce settlements or partnership distributions.
Sample Sentences
- The concept of owelty plays a crucial role in property division during divorce settlements.
- Understanding owelty is essential for equitable distribution of shared assets in a partnership.
- The court ordered an owelty payment to balance the unequal division of the inherited estate.
- Her attorney explained that owelty would ensure both parties received fair value from their joint investments.
- During the mediation, they discussed how to calculate owelty to avoid future disputes over the property.