Equity in Real Estate
The notion of equity with respect to real estate comes the equity of redemption. This equity is a property right valued at the difference between the market price of the property and the amount of any mortgage or other encumbrance.
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Famous quotes containing the words equity, real and/or estate:
“If equity and human natural reason were allowed there would be no law, there would be no lawyers.”
—Christina Stead (1902–1983)
“Society is a masked ball, where everyone hides his real character, and reveals it by hiding.”
—Ralph Waldo Emerson (1803–1882)
“Wilt thou have this Woman to thy wedded wife, to live together after God’s ordinance in the holy estate of Matrimony? Wilt thou love her, comfort her, honour, and keep her in sickness and in health; and, forsaking all other, keep thee only unto her, so long as ye both shall live?”
—Book Of Common Prayer, The. Solemnization of Matrimony, “Betrothal,” (1662)