Survivor Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Survivor, written in plain English, along with examples of how it is used.
What is Survivor?
1\) an individual who outlives another individual. 2) An individual who lives longer than the others 3) If for the use of or ownership of all assets received or inherited or held under “either or survivor” basis, including bank accounts, deposits, property holdings etc, those who are living are survivors.
History and Meaning of Survivor
The term "survivor" has been used for centuries to refer to an individual who outlives another individual or group of individuals. In more recent times, the term has also come to be used in legal contexts to refer to an individual who is entitled to receive assets or property left by someone who has passed away. This can include bank accounts, deposits, and property holdings that are held under an "either or survivor" basis, meaning that the assets will go to the surviving account holder if the other account holder passes away.
Examples of Survivor
- John was the sole survivor of a plane crash that killed all of the other passengers.
- Mary lived longer than any of her siblings, making her the survivor of the family.
- After her husband passed away, Lisa was named the survivor and inherited all of their joint assets.
Legal Terms Similar to Survivor
- Beneficiary: A person who is entitled to receive assets or property from a trust, will, or some other legal arrangement.
- Heir: A person who is entitled to receive property or assets from someone who has passed away.
- Executor: A person who is tasked with distributing a deceased person's assets according to their will or other legal arrangements.