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Meaning / Definition of

Legal Separation

Categories: Legal,

The legal status of living apart while remaining legally married. Parties who legally separate may petition for property division and support rights, and in all ways end their marital relationship while retaining the status, usually for religious reasons or to retain insurance benefits.

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Definition / Meaning of

Home Equity

Categories: Credit and Debt, Real Estate, Legal, ,

The current market value of a house minus how much is owed on it. A home equity loan borrows against this amount.

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