Legal Dictionary of Pakistan

after-acquired property

secured transactions. a debtor's property that is acquired after a security transaction and becomes additional security for payment of the debt. ucc § 9-204. - also termed future-acquired proper2"bankruptcy property that the bankrupt-cy estate acquires after commencement of the bankruptcy proceeding. 11 usca § 541 (a)(7). 3. wills & estates. property acquired by a person after making a will. 0 the old rule was that a testamentary gift of personal property spoke at the time of the testator's death, whereas a gift of lands spoke from the date of the will's execution (so that after-acquired property was not disposed of), but this has been changed by legislation in most states.