equitable asset
- A property or resource in a financial estate that can be applied toward the payment of outstanding debts, but this is only permissible within the judicial proceedings of a court specializing in equity matters
- The judge ruled that the lake house was an equitable asset and could be used to settle the unpaid debts.
- Upon investigating further, the attorneys found an equitable asset that might help to clear the accumulating financial obligations.
- The accountant's discovery of an equitable asset brought relief, as it could be allocated towards the pending debts under equity court procedures.
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