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In the insurance industry, an after acquired property clause allows insurance coverage for property the insured obtains after ratification of the policy or contract. This clause may operate only for a temporary period of time during which the insured must notify the insurer of the property so that the insurer can adjust the premiums accordingly.
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.
Category:Contract clauses concerns specific clauses in legal contracts. ... After acquired property clause; Arbitration clause; B. Break clause; C. Choice of law clause;
If a borrower pledges as collateral a car owned by a neighbor, and the neighbor does not know of and endorse this pledge, then the security agreement is ineffective. However, a security agreement may specify that it includes after-acquired property. If such a specification is included, then a pledge of "all automobiles owned by borrower" would ...
An acceleration clause is a section of a mortgage contract that can have big consequences: Namely, it can require you to pay off your entire mortgage at once. Even if you miss only one payment.
1. If O conveys property she doesn't own to A by warranty deed, but O later acquires title to that land, then title immediately passes to A.. 2. However, if, as above, O conveys property she doesn't own to A by warranty deed, but O later acquires title to that land, A may elect to treat O's lack of title at the time of the conveyance as a breach of the covenants of seisin and right to convey ...
To start the arbitration process, you must first file a Notice of Dispute with us. If, after 60 days, the dispute has not been resolved to your satisfaction, you may initiate arbitration by completing a Demand for Arbitration form, available by clicking here. The completed form should be returned directly to the AAA.
After acquired property clause; After-acquired property; Agreement in principle; Akershus witch trials; Alienated land; Allegation; Allonge; Alluvion (Roman law) Ampliative; Ancillary relief; Anonymous work; Anpartsselskab; Antecedent (law) Anti-alienation clause; Anti-suit injunction; Antichresis; Appearance of impropriety; Arguendo; Art ...