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after-acquired property :: legal definition


After-acquired property - n. 1) personal or real property acquired by a debtor after he/she has agreed that all his/her property secures a debt. Thus, the new property also becomes security for the debt. This includes improvements to real property which is security on a deed of trust or mortgage and personal property pledged in a security agreement (UCC-1). 2) in bankruptcy, property acquired by the bankrupt person after he/she has filed papers to be declared bankrupt. This after-acquired property is not included in the assets which may be used to pay any debts which existed at the time of bankruptcy filing.

See also: bankruptcy secured transaction and Related Law Terms ↓


Related Law Terms

abeyance :: 1) n. when the owner- ship of property has not bee ... 2) legal jargon for "undetermined."
abstract of title :: n. the written report on a title search which show ... e also: chain of title title report
abuse of discretion :: n. a polite way of saying a trial judge has made s ... partner's realistic ability to pay.
acknowledgment :: n. the section at the end of a document where a no ... me leases and various other papers.
after-acquired title :: n. title to property acquired after the owner atte ... ed title goes automatically to Sam.
appurtenant :: adj. pertaining to something that attaches. In rea ... t. See also: easement real property
assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property.
assign :: 1) v. to transfer to another person any asset such ... en shows up in contracts and wills.
assume :: v. to take over the liability for a debt on a prom ... he assumption. See also: assumption
attractive nuisance doctrine :: n. a legal doctrine which makes a person negligent ... ch make negligence harder to prove.
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
care :: n. in law, to be attentive, prudent and vigilant. ... she is involved. See also: careless
chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title
chattel :: n. an item of personal property which is movable, ... ments). See also: personal property
chattel mortgage :: n. an outmoded written document which made a chatt ... ed by the property. See also: UCC-1
collateral :: 1) n. property pledged to secure a loan or debt, u ... ral to the Colorado divorce action.
color of title :: n. the appearance of having title to personal or r ... rty based on this "color of title."
community property :: n. property and profits received by a husband and ... and distribution separate property
condemnation action :: n. a lawsuit brought by a public agency to acquire ... e also: condemnation eminent domain
condition subsequent :: n. 1) in a contract, a happening which terminates ... Dad Fauntleroy. See also: condition
conflict of interest :: n. a situation in which a person has a duty to mor ... a position adverse to the customer.
conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft
convey :: v. to transfer title (official ownership) to real ... ion conveyance deed grantee grantor
conveyance :: n. a generic term for any written document which t ... r Recorder of Deeds. See also: deed
corporation :: n. an organization formed with state governmental ... ation public corporation securities
covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant
creditor's claim :: n. a claim required to be filed in writing, in a p ... e also: claim in bankruptcy probate
deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed
demise :: 1) v. an old-fashioned expression meaning to lease ... r life. 3) n. death. 4) n. failure.
descent :: n. the rules of inheritance established by law in ... on inheritance intestate succession
devise :: 1) v. an old-fashioned word for giving real proper ... so: bequest gift legacy remise will
devisee :: n. a person who receives a gift of real property b ... will. See also: beneficiary legatee
discharge in bankruptcy :: n. an order given by the bankruptcy judge, at the ... red creditors. See also: bankruptcy
double jeopardy :: n. placing someone on trial a second time for an o ... that occurred thirty years earlier.
easement :: n. the right to use the real property of another f ... rstandings at the time of creation.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent
estate :: n. 1) all that one owns in real estate and other a ... ife estate probate real estate will
examination :: n. 1) the questioning of a witness by an attorney. ... irect examination testimony witness
exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange
execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution
false arrest :: n. physically detaining someone without the legal ... sment. See also: false imprisonment
fictitious defendants :: n. when a party suing (plaintiff) is not sure if h ... are not permitted in federal cases.
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
free and clear :: adj. referring to the ownership of real property u ... the title has no claim against it.
future interest :: n. a right to receive either real property or pers ... maturity (age 18) or upon marriage.
grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed
hearsay rule :: n. the basic rule that testimony or documents whic ... interest dying declaration hearsay
heir :: n. one who acquires property upon the death of ano ... y pretermitted heir succession will
hit and run :: n. the crime of a driver of a vehicle who is invol ... , and then walks back to the scene.
in personam :: adj. (in purr-soh-nam) from Latin for "directed to ... here. See also: in rem jurisdiction
incriminate :: v. to make a statement in which one admits that he ... d to information which would be so.
indenture :: n. a type of real property deed in which two parti ... bind a person to work for another.
indictment :: n. a charge of a felony (serious crime) voted by a ... ictable offense preliminary hearing
information and belief :: n. a phrase often used in legal pleadings (complai ... nswer complaint declaration perjury
insolvency :: n. 1) the condition of having more debts (liabilit ... the property. See also: bankruptcy
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence
joint :: adj., adv. referring to property, rights or obliga ... ncy joint venture tenancy in common
judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage
jump bail :: v. to fail to appear for a court appearance after ... also: bail bail bond bail bondsman
kidnapping :: (also spelled kidnaping) n. the taking of a person ... but now applies to adults as well.
land :: n. real property, real estate (and all that grows ... See also: real estate real property
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
legatee :: n. a person or organization receiving a gift of an ... eficiary devise devisee legacy will
leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging.
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property.
lineup :: n. a law enforcement method used in an attempt to ... entification is precarious at best.
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright
marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property
mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
Miranda warning :: n. the requirement, also called the Miranda rule, ... me such a suspect? See also: rights
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence
nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
notice of default :: n. a notice to a borrower with property as securit ... notice of default. See also: notice
notorious possession :: n. occupation of real property or holding personal ... e is as if the person is the owner.
nuisance :: n. the unreasonable, unwarranted and/or unlawful u ... evening). See also: public nuisance
personal effects :: n. things which include clothes, cosmetics and ite ... e, Susannah"). See also: personalty
personal services :: n. in contract law, the talents of a person which ... his/her unique ability and product.
personalty :: n. movable assets (things, including animals) whic ... lso: personal effects real property
pledge :: v. to deposit personal property as security for a ... ise to do something. See also: pawn
possessory interest :: n. in real estate, the intent and right of a perso ... o: possess possession real property
possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction.
probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
property :: n. anything that is owned by a person or entity. P ... rty real property separate property
property damage :: n. injury to real or personal property through ano ... l value. See also: damages property
property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax
quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title
real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust.
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder
reversion :: n. in real property, the return to the grantor or ... lled "reverter." See also: reverter
self-defense :: n. the use of reasonable force to protect oneself ... ndalism. See also: assault homicide
sound mind and memory :: n. having an understanding of one's actions and re ... ee also: competent incompetent will
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
straw man :: n. 1) a person to whom title to property or a busi ... a trail will mislead hunting dogs).
subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage
substantial performance :: n. in the law of contracts, fulfillment of the obl ... also: contract specific performance
tenancy in common :: n. title to property (usually real property, but i ... on. See also: joint tenancy tenancy
theft :: n. the generic term for all crimes in which a pers ... rglary embezzlement larceny robbery
title :: n. 1) ownership of real property or personal prope ... ink slip real property title search
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
title search :: n. the examination of county records for the prope ... e escrow lien title title insurance
tools of trade :: n. in bankruptcy law, the equipment a person requi ... pay creditors. See also: bankruptcy
tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death
transfer :: n. 1) the movement of property from one person or ... son or shipment to continue travel.
treason :: n. the crime of betraying one's country, defined i ... nment. See also: espionage sedition
trustee in bankruptcy :: n. a person appointed by a bankruptcy court to sup ... f the debtors. See also: bankruptcy
undivided interest :: n. title to real property held by two or more pers ... y by the entirety tenancy in common
unlawful detainer :: n. 1) keeping possession of real property without ... Thirty-day notice three-day notice
use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest.
will :: n. a written document which leaves the estate of t ... will and testament probate testator

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Other Law Terms - A

a fortiori :: (ah-for-she-ory) prep. Latin for "with even strong ... rother Cain certainly is too young.
a priori assumption :: (ah-pree-ory) n. from Latin, an assumption that is ... when the reality is not so certain.
a.k.a. :: prep. abbreviation for "also known as" when someon ... nodgrass, a.k.a. "Snuffy the Snod."
ab initio :: prep. lawyer Latin for "from the start," as "it wa ... tart," as "it was legal ab initio."
abandon :: v. to intentionally and permanently give up, surre ... lso: abandoned property abandonment
abandoned property :: n. property left behind (often by a tenant) intent ... -use. See also: abandon abandonment
abandonment :: n. the act of intentionally and permanently giving ... : abandon abandoned property patent
abate :: v. to do away with a problem, such as a public or ... ty septic tank. See also: abatement
abatement :: n. 1) the removal of a problem which is against pu ... eneficiary in full. See also: abate
abduction :: n. the criminal taking away of a person by persuas ... g of children. See also: kidnapping
abet :: v. to help someone commit a crime, including helpi ... n the crime. See also: aid and abet
abeyance :: 1) n. when the owner- ship of property has not bee ... 2) legal jargon for "undetermined."
able-bodied :: adj. physically capable of working at a job or in ... of paying alimony or child support.
abortion :: n. the termination of pregnancy by various means, ... ed abortion continue in the future.
abrogate :: v. to annul or repeal a law or pass legislation th ... ons of a contract. See also: repeal
abscond :: v. 1) traditionally to leave a jurisdiction (where ... as in "he absconded with the loot."
absolute :: adj. complete, and without condition. ... j. complete, and without condition.
abstention doctrine :: n. when the Supreme Court refuses to exercise its ... being appealed from a state court.
abstract :: n. in general, a summary of a record or document, ... tract of judgment abstract of title
abstract of judgment :: n. a written summary of a judgment which states ho ... aying the debt. See also: levy lien