Perfect equity
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
An equitable title or right which lacks nothing to its completeness as a, legal title or right except the formal conveyance or other investiture which would make it cognizable at law; particularly, the equity or interest of a purchaser of real estate who has paid the purchase price in full and fulfilled all conditions resting on him, but has not yet received a deed or patent.
See Shaw v. Lindsey, 60 Ala. 344 ; Smith v. Cockrell, 66 Ala. 75,