After-Acquired Property Clause
After-Acquired Property Clause
A phrase in a mortgage (an interest in land that furnishes security for payment of a debt or performance of an obligation) that provides that any holdings obtained by the borrower subsequent to the date of the loan and mortgage will automatically constitute additional security for the loan.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
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