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Simple English definitions for legal terms
acquired land
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A quick definition of acquired land:
Acquired Land: Land that has been obtained or purchased by someone or an organization. It is a piece of property that was not originally owned by the person or organization but was acquired through a transaction or agreement.
Acquired Right: A right that has been obtained or gained by someone through a legal process or agreement. It is a privilege or entitlement that was not originally possessed by the person but was acquired through a legal means.
A more thorough explanation:
Definition: Land that has been obtained or purchased by an individual or organization.
Example: A real estate developer purchased a large plot of land on the outskirts of town to build a new housing development.
This example illustrates the definition of acquired land as it shows how an individual or organization can obtain land through a purchase.
Definition: A right that has been obtained or granted to an individual or organization.
Example: A company was granted the exclusive right to sell a certain product in a particular region.
This example illustrates the definition of acquired right as it shows how a company can obtain a right through a grant or agreement.