Property or possessions that are acquired or purchased, especially as distinguished from property inherited or received by gift.
From Old French acquest, derived from acquerir (to acquire). In legal terminology, it specifically refers to acquisitions made during one's lifetime through purchase, contrast with inherited property or gifts.
In old property law, there's an important distinction between 'acquest' (what you buy yourself) and 'heritage' (what you inherit)—this legal vocabulary is still used in some jurisdictions, especially in marriage and inheritance law!
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