Succession

Succession duties

Succession duties. The (English) Succession Duty Act, 1853, amended by 22 & 23 Vict. c. 21, ss. 12-15, and by the Customs and Inland Revenue Acts, 1881, 1888, and 1889, imposed a new set of duties, varying in amount from 1 per cent. in the case of a child succeeding a parent to 10 per cent. in the case of succession to a stranger in blood, upon real or personal property to which any person succeeds on the death of another. The duty is calculated on the capitalized value for the life of the successor of the property succeeded to, in accordance with a table schedule to the Act of 1853; e.g., if a person aged fifty succeed to property worth 100l. a year, he pays succession duty upon 1242l. 19s. 6d.Succession duties are payable as a rule at the same rate as legacy duty in respect of all property liable to be administered by any Court in Great Britain and Northern Ireland--unlike legacy duty, it falls on property passing by death (succession), under disposition by deed or other instrument (...

succession 1 a : the order in which or the conditions under which one person after another succeeds to a property, dignity, position, title, or throne [the sequence of to the presidency] b : the right of a person or line of ancestry to succeed c : the line of ancestry having such a right 2 a : the act or process of following in order b : the act or process of one person's taking the place of another in the enjoyment of or liability for rights or duties or both 3 : the act or process by which a person becomes entitled to the property or property interest of a deceased person and esp. an intestate : the transmission of the estate of a decedent to his or her heirs, legatees, or devisees ;also : the estate of the deceased including assets and liabilities used chiefly in the civil law of Louisiana intestate succession 1 : the transmission of property or property interests of a decedent as provided by statute as distinguished from the transfer in accordance with the decedent's wi...

successive

successive 1 a : of or relating to succession [ rights] b : created by succession 2 : following in order : following each other without interruption [ bankruptcy filings] 3 : of, relating to, or being a petition for habeas corpus that raises a claim already adjudicated suc·ces·sive·ly adv suc·ces·sive·ness n ...

Succession to this office

Succession to this office, the word 'succession' in relation to property and rights and interests in property generally implies 'passing of an interest from one person to another' vide in re Hindu Women's Right to Property Act, 1941). It is now well-established that the office of a hereditary trustee is in the nature of property. This is so whether the trustee has a beneficial interest of some sort or not. (See Ganesh Chander Dhur v. Lal Behari, AIR 1936 PC 318: 71 MLJ 740 and Bhabatatini v. Ashalata, AIR 1943 PC 89: 46 BLR 212) Ordinarily a Shebaitship or the office of Dharmakartha is vested in the heirs of the founder unless the founder has laid down a special scheme of succession or except when usage or custom to the contrary is provided to exist, Sambudamurthi Mudaliar v. State of Madras, AIR 1971 SC 2363: (1970) 1 SCC 4: (1970) 2 SCR 424....

Successive dealer

Successive dealer, an importer is not one such dealer; he being the very first dealer in the State. Undoubtedly, an importer is one of the dealers. He is the first dealer in the State. The chain of successive dealers begins from the first dealer and it goes up to the last dealer. Any one of the dealers in this chain can be considered as a 'successive dealer', Kanpur Vanaspati Stores v. CST, AIR 1973 SC 2373 (2375): (1973) 4 SCC 110. (U.P. Sales Tax Act, 1948, s. 3A)...

intestate succession

intestate succession see succession ...

testate succession

testate succession see succession ...

vacant succession

vacant succession see succession ...

Succession

Succession, the power or right of coming to the inheritance of ancestors. See CANONS OF INHERITANCE; DISTRIBUTION.1. The act or right of legally or officially taking over a predecessor's office, rank, or duties 2. The acquisition of rights or property by inheritance under the law of descent and distribution, Black's Law Dictionary, 7th Edn., p. 1445.The word 'succession' in relation to property and rights and interests in property generally implies 'passing of an interest from one person to another', Sambuda Musthi Mudaliar v. State of Madras, AIR 1971 SC 2363 (2364): (1970) 1 SCC 4 [T.N. Hindu Religious and Charitable Endow-ments Act, 1951 (19 of 1951)]...

succession tax

succession tax 1 : estate tax 2 : inheritance tax ...

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