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Simple English definitions for legal terms
acquest
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A quick definition of acquest:
Term: ACQUEST
Definition: Acquest is a legal term that refers to property that is acquired by purchase, gift, or any means other than inheritance. It is often used to describe property that is acquired during a marriage and is presumed to be community property. In simpler terms, acquest means things that someone gets by buying or receiving them as a gift, and it can also refer to things that a married couple gets during their marriage.
A more thorough explanation:
Definition: Acquest (pronounced uh-kwest) is a legal term that refers to property that is acquired by purchase, gift, or any means other than inheritance. It is often used to describe property that is acquired during a marriage and is presumed to be community property.
Examples:
- When John and Jane got married, they both agreed that any acquest they acquired during their marriage would be considered community property.
- The couple's lawyer advised them to keep track of all their acquests so that they could divide their assets fairly in case of a divorce.
These examples illustrate how acquest is used to describe property that is acquired during a marriage and is presumed to be community property. It is important for couples to understand the legal implications of acquest and to keep track of their assets to ensure a fair division in case of a divorce.