1. 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 property. [Cases: Secured Transactions 13, 116. C.J.S. Secured Transactions §§ 12, 85.]
2. Bankruptcy. Property that the bankruptcy estate acquires after commencement of the bankruptcy proceeding. 11 USCA § 541(a)(7). [Cases: Bankruptcy 2558. C.J.S. Bankruptcy §§ 120, 122.]
3. Wills & estates. Property acquired by a person after making a will. • 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. [Cases: Wills 8, 578. C.J.S. Wills §§ 53, 55–56, 1099–1104.]
