Acquets Law and Legal Definition
In civil Law, acquets means self acquired property. The term acquet is derived from the French word ‘acquet’ which means acquisition and Latin word ‘acquirere’ which means to acquire. Acquets are property acquired by way of purchase or gift. Acquets include profits or gains of property between husband and wife. Acquets does not include property acquired by way of succession. Acquets is also termed as acquest. Under provisions of Louisiana civil law,
• Profits which husband has administration and enjoyment, either of right or of industry and labor of both husband and wife.
• Estates which husband and wife acquire during marriage, either by donations, made jointly to both of them, or by purchase. Purchase may be in the name of either husband or wife. Period of time when the purchase is made is alone looked into and not the person who made the purchase. [ La. C.C. Art. 2371]
Acquets applies to all marriages contracted in the state of Louisiana, or out of it when the parties afterward go there to live, as to acquets afterward made there. [ La. C.C. Art. 2370] Acquets are divided into two equal portions between husband and wife or between their heirs at the dissolution of their marriage. [La. CC. Art. 2375] Husband and wife may however lawfully stipulate that there shall be no community of profits or gains. [La. CC. Art.2369]. Parties cannot agree to be governed by the laws of another country.