Owelty of partition: monetary compensation to equalize unequal land shares, treated as a lien where ordered. Owelty denotes a monetary adjustment used to equalize unequal property interests where physical division cannot produce equivalent shares; courts may ... Summary
Owelty of partition: monetary compensation to equalize unequal land shares, treated as a lien where ordered.
Owelty denotes a monetary adjustment used to equalize unequal property interests where physical division cannot produce equivalent shares; courts may require the holder of the more valuable portion to pay an owelty to the holder of the lesser portion as pecuniary compensation, which may be secured as a lien on the property, and owelty similarly equalizes exchanges where one estate is less valuable.
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