Legal Definitions of Succession, Successor
The right and transmission of the rights an obligations of the deceased to his heirs.2 min read
2. Types of Succession
3. Common Law
The right and transmission of the rights an obligations of the deceased to his heirs. Succession signifies also the estate, rights and charges which a person leaves after his death, whether the property exceed the charges, or the charges exceed the property, or whether he has left only charges without property.
The succession not only includes the rights and obligations of the deceased, as they exist at the time of his death, but all that has accrued thereto since the opening of the succession, as also of the new charges to which it becomes subject. Finally, succession signifies also that right by which the beir can take possession of the estate of the de-ceased, such as it may be.
Types of Succession
There are three sorts of successions, to wit: testamentary succession; legal succession; and, irregular succession.
- Testamentary succession is that which results from the Constitution of the heir, contained in a testament executed in the form prescribed by law.
- Legal succession is that which is established in favor of the nearest relations of the deceased.
- Irregular succession is that which is established by law in favor of certain persons or of the state in default of heirs either legal or instituted by testament. The lines of a regular succession are divided into three, which rank among themselves in the following order: 1. Descendants. 2. Ascendants. 3. Collaterals.
The mode by which one set of persons, members of a corporation aggregate, acquire the rights of another set which preceded them. This term in strictness is to be applied only to such corporations.
One who follows or comes into the place of another. This term is applied more particularly to a sole corporation, or to any corporation. The word heir is more correctly applicable to a common person who takes an estate by descent.
It is also used to designate a person who has been appointed or elected to some office, after another person.