succession


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Succession

The transfer of title to property under the law of Descent and Distribution. The transfer of legal or official powers from an individual who formerly held them to another who undertakes current responsibilities to execute those powers.

succession

n. the statutory rules of inheritance of a dead person's estate when the property is not given by the terms of a will, also called laws of "descent and distribution." (See: descent and distribution, inheritance)

succession

noun chain, concatenation, consecutive order, continuatio, cycle, descent, family, issue, lineage, offspring, order, procession, progeny, progression, sequence, series, successorship, train
Associated concepts: hereditary succession, intestate succession, legal succession, line of succession, natural succession, successor employer, successor interest, testamentary succession
Foreign phrases: Haereditas est successio in universum jus quod defunctus habuerit.Inheritance is the succession to every right which the deceased had possessed. Haereditas nihil aliud est, quam successio in universum jus, quod defunctus habuerit. An inheritance is nothing other than the succession to all the rights which the deeeased had. Qui in jus dominiumve alterius succedit jure ejus uti debet. One who succeeds to the ownership rights of another, should enjoy the rights of the other. Non debeo melioris conditionis esse, quam auctor meus a quo jus in me transit. I ought not to be in better condition than he to whose rights I succeed.
See also: birth, bloodline, chain, continuity, cycle, devolution, frequency, hierarchy, lineage, sequence, subrogation

succession

following another, used in relation to the taking over of a body corporate including the Crown. Succession to the Crown is governed by law but can be upset by abdication. Technically, the area of law regulating the passing of property from a deceased person. See INTESTACY, TESTATE.

SUCCESSION, in Louisiana. 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 heir can take possession of the estate of the deceased, such as it may be.
     2. There are three sorts of successions, to wit: testamentary succession; legal succession; and, irregular succession. 1. Testamentary succession is that which results from the constitution of the heir, contained in a testament executed in the form prescribed by law. 2. Legal succession is that which is established in favor of the nearest relations of the deceased. 3. 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. Civ. Code, art. 867-874.
     3. The lines of a regular succession are divided into three, which rank among themselves in the following order: 1. Descendants. 2. Ascendants. 3. Collaterals. See Descent. Vide Poth. Traite des Successions Ibid. Coutumes d'Orleans, tit. 17 Ayl. Pand. 348; Toull. liv. 3, tit. 1; Domat, h.t.; Merl. Repert. h.t.

SUCCESSION, com. law. 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. 2 Bl. Com. 430.

References in periodicals archive ?
While the definition of succession may differ from one to the other, succession planning has a more convergent definite.
In the situation when norms that belong to different legislative sources regulate the same succession procedural element, the norms, which will be applied with priority, must be established clearly.
The DIFC Registry has been established under the jurisdiction of the DIFC Courts, which allows the Registry to operate and to deal with succession matters pertaining to assets and guardianship matters in the Emirate of Dubai.
When companies do succession planning right, they make CEO governance an ongoing agenda item at board meetings, and work to get in front of issues before they become disruptive.
As the executive director for a consortium of HR executives, Patty Woolcock is well positioned to provide advice for CHROs, particularly as they strive to align the focus of the CEO and the board around the succession process.
The business school division of Baylor University describes how lack of succession planning affected German shoe suppliers and brothers Adolf and Rudolph Dassler.
Last year, InterSearch Worldwide reported that a survey it sponsored showed 45 percent of executives from 34 countries said their companies have a process for conducting CEO succession planning.
This paper elaborates on the fundamental meaning of the Queen as a corporation sole and examines how the corporate status of the Crown undermines the logic of the Succession to the Throne Act, 2013.
Based in Portland, Oregon, Succession Resource Group, Inc.
Of those producers who do not have a succession plan in place but are planning on creating one, most say they will wait until they are within five years of retirement: 34 percent state that they will create a plan when they are 5 years away from retirement; 31 percent state they will do so three years from retirement; and 20 percent state they will establish a plan when they are one year from retiring.
La princesse Aiko, 11 ans (nee le 1er decembre 2001), fille unique du prince Naruhito et de son epouse Masako, ne peut figurer dans l'ordre de succession au trone, les femmes en ayant ete ecartees en 1889.
accounting firms either were in merger talks or expected to be within two years, according to the 2012 PCPS Succession Survey.