Net equity
The difference between the value of the asset and what is owed on the asset plus any closing costs. It is generally synonymous with equity. Frequently, a divorcing couple is ordered to split the net equity. For example, if they owe $300,000.00 on the home and sell it for $500,000.00, and pay $20,000.00 in closing costs. They have a net equity of $180,000.00. Each spouse would then get half of that, or $90,000.00.