equity - the difference between an owner's debt and lien obligations on a property and its current market value. For example, if Abel owns a home with a mortgage of $100,000, a tax lien of $25,000, and a market value of $350,000, his equity is $225,000 [$350,000 ? ($100,000 + $25,000)]. Equity can be negative if the debt exceeds the value of the property.

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