Legal Definitions - acquet

Acquêt (often used in its plural form, acquêts) is a term primarily found in civil law systems, particularly those dealing with community property. It refers to property acquired by individuals, or more commonly, by spouses, through means other than inheritance. When used in the context of marriage, acquêts specifically denote property obtained by either spouse during the marriage, which is generally presumed to be shared community property.

Here are some examples illustrating the concept of acquêts:

• The Family Home: Sarah and Tom get married. Five years into their marriage, they decide to purchase a house together using their combined income and a mortgage. This house would be considered an acquêt because it was acquired by purchase during their marriage, rather than being inherited by either spouse. In a a community property state, it would typically be classified as community property belonging to both of them.

• Business Profits: David starts a successful consulting business two years after marrying Emily. All the profits and assets generated by this business during their marriage are reinvested or saved. The profits and assets accumulated by David's business during his marriage to Emily are acquêts. They were acquired through his efforts and work during the marriage, not through inheritance, and would generally be considered community property.

• Lottery Winnings: While married, Maria buys a lottery ticket and wins a substantial sum of money. These lottery winnings are an acquêt. They were acquired by Maria during her marriage through a means other than inheritance. In a community property jurisdiction, these winnings would typically be considered community property belonging to both Maria and her spouse.