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Term Definition
Equity
- the net proceeds of the sale of the family home, after deduction of estate agent’s and solicitor’s fees and paying off the remaining mortgage.
Application in Divorce
In the context of divorce actions, the term equity is often used to refer to the
marital home
. It includes the unearned appreciation of the property.
Equity often makes the marital home the largest asset a couple divide in a divorce.
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