Succession Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Succession, written in plain English, along with examples of how it is used.
What is Succession?
(n) Succession is the inheritance of the property of the deceased by his legal inheritances as per the prevailing law, when the deceased person has not made a legal will distributing his / her property by any other means
History and Meaning of Succession
Succession is a legal term that refers to the transfer of property, rights, obligations, and titles from one person to another upon the former's death or resignation. This transfer, also known as devolution, can occur either through inheritance, appointment or election, and is governed differently by various legal systems around the world. The concept of succession dates back to ancient times, where it was commonly used to secure the transfer of power and authority from one ruler to the next.
In modern times, succession primarily relates to inheritance, and determines who is entitled to receive the deceased person's property, land, money or other assets. This process is governed by laws and regulations that vary significantly depending on the jurisdiction, and typically involves a court procedure in which the assets of the deceased are distributed to the legal inheritors.
Examples of Succession
- John inherited his father's estate through succession after he passed away without leaving a will.
- Following the death of the company's CEO, the board of directors had to determine the succession plan to appoint a new leader.
- The Constitution establishes a legal framework for the presidential succession in case of the incumbent's death, resignation or removal from office.
Legal Terms Similar to Succession
- Inheritance: The process by which a person acquires the property and other assets of a deceased person by virtue of being the legal heir.
- Bequeathal: The act of giving or leaving property to someone through a will, naming them as a beneficiary or an executor.
- Probate: The legal process by which a deceased person's property is distributed among their heirs, overseen by a court-appointed executor.