Abstract: A split nut has two halves securely fastened to one another by magnets. The magnets may be attached to the nut or the nut itself can be magnetized. The magnets secure the two halves together so that the threads of each half are in alignment and the nut may be moved along a threaded shaft. The nut may be attached to a threaded shaft anywhere along the length of the shaft. The nut has the ability to realign or reform a damaged portion of the threaded shaft. The nut can also be used for tightening, in the manner of a conventional nut. Moreover, the nut can be used for extracting by pushing, as for example in removing steering wheels for a steering column. Also, if provided with a gasket, the nut can stop leaks.