Legal Definitions - acquets and gains

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.