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Equitable assets are all assets which are chargeable with the payment of debts or legacies in equity, and which do not fall under the description of legal assets. Those portions of the property which by the ordinary rules of law are exempt from debts, but which the testator has voluntarily charged as assets, or which, being nonexistent at law, have been created in equity. They … [Read more...] about EQUITABLE ASSET

In English practice a defense to an action on grounds which prior to the passage of the common-law procedure act, would have been cognizable only in a court of equity. In American practice a defense which is cognizable in a court of equity but which is available there only and not in an action atlaw except under the reformed codes of practice. … [Read more...] about EQUITABLE DEFENSE

Most states require under law that the assets acquired during the time of the marriage are to be divided equitably (fairly) in the event of divorce. A higher wage earner will typically receive a 2/3 to 1/3 share although the ultimate amount each spouse will get may also be determined by how much a spouse may be at fault for a divorce. … [Read more...] about EQUITABLE DISTRIBUTION

The right of every citizen to have access to the court and receive equal treatment under the law. As opposed to right of due process, this focuses on the equal treatment under the law and during the legal process. … [Read more...] about EQUAL PROTECTION OF THE LAW

An equitable estate is usually a right or interest in land, which, not having the properties of a legal estate, but being merely a right of which courts of equity will take notice, requires the aid of such court to make it available. 2. These estates consist of uses, trusts, and powers. It is an estate whose only remedy is in equity, e.g. a trust with a beneficial income for … [Read more...] about EQUITABLE ESTATE