after-acquired property


after-acquired property
Property of debtor which is acquired after security transaction covering property already owned is perfected. Property acquired after the date of the agreement usually becomes additional security for payment of the indebtedness if an after-acquired property provision is included in the agreement.
See UCC No. 9-204, and after acquired property clause.
May also refer to property acquired by testator after execution of will.
In bankruptcy law, with certain exceptions, the bankruptcy estate includes any interest in property that the estate acquires after commencement of the case. Bankruptcy Code No. 541(a)

Black's law dictionary. . 1990.

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