Define: After-Acquired-Title Clause

An after-acquired-title clause is a provision in an oil-and-gas lease that extends the lease coverage to any additional property interest obtained by the lessee after signing the lease. This ensures that the lease remains applicable even if the lessee acquires more ownership of the property in the future. The after-acquired-title doctrine is a legal principle stating that if someone sells property to another person without actually owning it at the time, the buyer still obtains the title to the property once the seller eventually acquires it. An afterborn child or afterborn heir refers to a child or heir who is born or comes into existence after a specific event, such as the death of a parent. Aftercare is a term used in the juvenile justice system to describe the support and supervision provided to a young person after their release from custody. After cost pertains to expenses incurred following a particular event, such as the cost of repairing a car after an accident. Aftermarket refers to the market for products sold after the original manufacturer has sold them, such as car parts or accessories. After the fact denotes something that occurred subsequent to a significant event in the eyes of the law, such as someone aiding a criminal after they have committed a crime.

An after-acquired-title clause is a provision in an oil-and-gas lease that expands the lease’s coverage to include any interest in the property that the lessor may acquire after the lease is executed. For instance, a common wording is “This lease covers all the interest currently owned by or that may be obtained by the lessor in the future. The after-acquired-title doctrine is the principle that ownership of property automatically transfers to a person who purchased the property from a seller who acquired ownership only after purportedly selling the property to the buyer. For example, if a person sells a house to someone else but does not actually own the house yet, the buyer will still obtain ownership of the house when the seller acquires it. An afterborn child refers to a child who is born after a specific event, such as the death of a parent. An afterborn heir is an individual who is born after a will is created but is still entitled to inherit from the deceased person’s estate. Aftercare pertains to the support and supervision provided to a juvenile who has been released from a correctional facility. For instance, a juvenile parole program may offer aftercare services to assist the juvenile in reintegrating into society and avoiding further offences. After cost refers to the total expenses incurred for a project or investment. For example, if a company invests in a new factory, the after cost would encompass the construction expenses, equipment costs, and any other related expenditures. The aftermarket refers to the secondary market for goods or services, such as replacement parts for a car. For instance, if a person needs to replace a broken headlight on their car, they may purchase a replacement headlight from an aftermarket supplier instead of the original manufacturer. After the fact refers to something that occurs subsequent to a legally significant event. For example, an accessory after the fact is an individual who aids someone else in evading arrest or prosecution for a crime that has already been committed.

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This glossary post was last updated: 17th April 2024.