OWELTY

Equality. This word is used In law in several compound phrases, as follows: 1. Owelty of partition is a sum of money paid by one of two caparceners or co tenants to the other, when a partition has been effected between them, but, the land not being susceptible of division into exactly equal shares, such payment is required to make the portions respectively assigned to them of equal value. 2. In the feudal law, when there is lord, mesne, and tenant, and the tenant holds the mesne by the same service that the mesne holds over the lord above him, this was called “owelty of services.” Tomlins. 3. Owelty of exchange is a sum of money given, when two persons have exchanged Bl. Law Dict.(2d Ed.)65 lands, by the owner of the less valuable estate to the ‘owner of the more valuable, to equalize the exchange.