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Equity
The value of an asset or liability minus any outstanding debt associated with it. Equity is the ownership interest that a person has in an asset.
More Details
Equity represents the value of an ownership interest in a company or asset. It can be used as a measure of financial strength and as a source of capital for investment or expansion.
Example
If you own a home worth $500,000 and you have a mortgage balance of $300,000, your home equity is $200,000.
Related Terms
Stop Payment
A request made by a financial institution to cancel a check or payment that has not completed processing, typically prompted by the account holder.
Residual Interest
The interest that accumulates on a loan or credit card balance when it is not paid off in full from one billing period to the next.
Available Balance
The amount of money that is currently accessible in an account and can be used for transactions.