Legal Dictionary of Pakistan

perfect equity

An equitable title or right that, to be a legal title, lacks only the formal conveyance or other investiture that would make it cognizable at law; esp., the equity of a real-estate purchaser who has paid the full amount due but has not yet received a deed. secret equity. See latent equity. 6. The right to decide matters in equity; equity jurisdiction <the court decided that the wrong was egregious enough to ignore the statute of limitations and decide the case in equity>. 7. The amount by which the value of or an interest in property exceeds secured claims or liens; the difference between the value of the property and all encumbrances upon it <thanks to the real-estate boom, the mortgaged house still had high equity>. - Also termed cushion. 8. An ownership interest in property, esp. in a business <the founders gave her equity in the business in return for all her help>. See OWNERS' EQUITY. 9. A share in a publicly traded company <he did not want to cash in his equity>.