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Simple English definitions for legal terms

acquets and gains

Read a random definition: autrefois

A quick definition of acquets and gains:

Acquets and gains: In Louisiana, when a married couple owns property together, it is called community property. Acquets and gains refer to the assets that belong to both spouses in this community property. It includes things like money, real estate, and other possessions that the couple acquired during their marriage.

A more thorough explanation:

Acquets and Gains

Acquets and gains refer to the assets that make up the community property of spouses who are subject to Louisiana community-property laws. It is often shortened to "acquets."

For example, if a couple in Louisiana buys a house together during their marriage, that house would be considered an "acquet" and would be owned equally by both spouses. Similarly, if one spouse starts a business during the marriage, any profits earned from that business would be considered "gains" and would also be owned equally by both spouses.

Another example would be if one spouse inherits money or property during the marriage, that inheritance would be considered separate property and not part of the community property. However, if the inheritance is used to buy a house or invest in a business, then the house or business would become community property and subject to the acquets and gains rules.

Acquets and gains are important concepts in Louisiana community-property law because they determine how property is divided in the event of a divorce or the death of one spouse. Understanding these rules can help couples make informed decisions about how to manage their finances and assets during their marriage.

acquets and conquets | acquiesce

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lilypadfrog
15:45
NYU is a t6 unless they don’t accept me and then idgaf what they’re ranked
texaslawhopefully
15:46
That's the best mentality
texaslawhopefully
15:46
If I get into UChicago it will be CYS
lilypadfrog
15:48
waspy I’m sure he meant to clarify that CYS is Cornell Yale Stanford
yeah just making sure
I look really good in blue tho
obviously cornell is t3
cumsock
15:49
someone from my undergrad is going to columbia for a masters in social work and the way they are talking to me im pretty sure they think thats as hard to get accepted to as columbia law
every prof at cornell glazes it so hard
GreyCeaselessMammoth
15:50
i know so many heads going to various schools for random masters degrees and its like babe its not the sameeee
cumsock
15:50
"The acceptance rate for the Master of Science in Social Work (MSW) program at Columbia University is 74%" does he know?
15:50
@cumsock: some battles are won by avoiding fighting them
cumsock
15:51
im not i just wish normies knew its not the same
Trismegistus
15:51
i need chicago so badly
15:51
for suresies
lilypadfrog
15:52
llama do you think we’re besties? I kinda think we’re besties
JumpySubsequentDolphin
15:52
@GreyCeaselessMammoth: PLS I know a girl who got a master’s at Columbia for some random niche thing and she told EVERYBODY SHES GOING TO COLUMBIA LAW SCHOOL
GreyCeaselessMammoth
15:52
WHAT???
15:53
@JumpySubsequentDolphin: I can respect the hustle.
GreyCeaselessMammoth
15:53
penn r
GreyCeaselessMammoth
15:53
called it
15:53
i have two old classmates going to columbia for like social work
15:53
@lilypadfrog: that depends. flash ur mod badge to find out
soyalmondoatmilk
15:54
penn R too bruh
GreyCeaselessMammoth
15:55
luigi arc ended :(
15:56
you can be driven insane by chronic back pain anywhere :)
[M] lilypadfrog
15:57
@llama: if you insist
Trismegistus
15:57
STILL NOTHING?
Trismegistus
15:57
for me
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