- equity
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The value of a debtor's interest in property that remains after liens and other creditors' interests are considered. (Example: If a house valued at $60,000 is subject to a $30,000 mortgage, there is $30,000 of equity.) (BankruptcyAction.com)This refers to the excess that the value of a piece of property has over any charges or encumbrances against that piece of property. (Dictionary of Canadian Bankruptcy Terms)The debtor's unencumbered interest in property (SA-Bankruptcy.com)
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.