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after-acquired property

after-acquired property definition - legal

n

  1. In commercial law, property acquired by a debtor after the execution of a security agreement wherein property acquired by the debtor before the execution of the agreement has been pledged as collateral for a loan.
  2. In bankruptcy law, property acquired by a bankrupt after a petition for bankruptcy is filed.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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