After-acquired property has multiple meanings in law.
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Transcription
Real property
In other areas of law
The term "after-acquired property" also arises in the context of bankruptcy, secured transactions, and the law of wills.[1] In this context, "after-acquired property" is simply property which is acquired by a borrower after a security agreement is signed, by a debtor after a bankruptcy case is commenced, or by a testator after a will is made.
In the case of secured transactions, whether the after acquired property becomes part of the collateral pledged by the borrower is dependent upon both the language of the security agreement and § 9-204 of the Uniform Commercial Code.
References
- ^ "Marshalling Securities in the Context of Insolvency: A Guide - [2003] MurUEJL 32". www5.austlii.edu.au. Retrieved 2023-04-11.
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This page was last edited on 11 April 2023, at 17:56