Take the following as truth: After a brief stint living in the Palazzo Vecchio in the Piazza della Signoria, Duke Cosimo I and his wife, Eleonora of Toledo, acquired the palace from the bankrupt Pitti merchant family in 1549 as the Medici's official residence; it was enlarged and embellished substantially over the centuries.
Then the following statement: "The Medici's official residence used to belong to the Pitti family." is true, false, or inconclusive?
Answer: True