Successor - Law Dictionary Search Results
Home Dictionary Name: successoruniversal successor
universal successor in the civil law of Louisiana : a successor (as an heir, universal legatee, or legatee under universal title) who succeeds to the rights and obligations of the ancestor in title, continues possession by the ancestor's title, and is responsible for the debts of the succession compare particular successor NOTE: Neither a usufructuary under universal title nor a universal usufructuary is a universal successor. ...
particular successor
particular successor in the civil law of Louisiana : a successor (as a donee or buyer) who succeeds by particular title to the rights and obligations pertaining only to the property conveyed by the ancestor in title, who takes title and possession in his or her own right, and who is not liable for any debts of the succession compare universal successor ...
successor in interest
successor in interest :a successor to another's interest in property ;esp : a successor in ownership of a business that is carried on and controlled substantially as it was before the transfer ...
Successor-in-interest
Successor-in-interest, 'successor-in-interest' the relevant facts to be taken into account in determining this question was explained by Gajendragadkar, J. in the following words: Did the purchaser purchase the whole of the business? Was the business purchased a going concern at the time of the sale transaction? Is the business purchased carried on at the same place as before? Is the business carried on without a substantial break in time? Is the business carried on by the purchaser the same or similar to the business in the hands of the vendor? If there has been break in the continuity of the business, what is the nature of the break and what were the reasons responsible for it? What is the length of the break? Has goodwill been purchased? Is the purchase only of some parts and the purchaser having purchased the said parts purchased some other new parts and started a business of his own which is not the same as the old business but is similar to it? These and all other relevant factor...
successor
successor : one that follows : one that succeeds another (as in a position, title, office, or estate) ...
Singular successor
Singular successor. A purchaser is so termed in Scots Law, in contradistinction to the heir of a landed proprietor, who succeeds to the whole heritage by regular title of succession or universal representation, whereas the purchaser acquires right solely by the single title acquired by the disposition of the former proprietor, Bell's Scots Law Dict....
Successor
Successor, one that follows in the place of another. The correlative of predecessor in the succession, (English) Succession Duty Act, 1883. See PREDECESSOR.A person who succeeds to officer, rights, responsibilities, or place of another; one who replaces or follow another, Black's Law Dictionary, 7th Edn., p. 1446....
Sole, Corporation
Sole, Corporation, one person and his successors, who are incorporated by law, in order to give them some legal capacities and advantages, particularly that of perpetuity, which in their natural persons they could not have had; as the sovereign, a bishop, parson, etc., Steph. Com., 7th Edn., i. 358; iii. 4.The word 'successors' was essential in order to pass the fee simple in a grant to a corporation sole; without it, a life estate only passes: Co. Litt. 94 b. Words of limitation are not now necessary to convey land to a corporation sole [(English) Law of Property Act, 1925, s. 60], and by s. 180 (ibid.) any property which vested at any time in a corporation sole, including the Crown, passes and always has passed to his successors unless disposed of by him, and on his death it does not pas to his personal representatives but to his successor [Administration of Estates Act, 1925, s. 3 (5)]. In the event of a vacancy in office, see s. 180, L.P. Act, 1925. As to the property on a dissolut...
Run with the land-Run with the reversion
Run with the land-Run with the reversion. A covenant is said to 'run with the land,' either leased or conveyed in fee, when either the liability to perform it, or the right to take advantage of it, passes to the assignee of that land. A covenant is said to 'run with the reversion' to land leased when either the liability to perform it, or the right to take advantage of it, passes to the assignee of that reversion. Consult Spencer's case, (1583) 1 Sm LC 1, where a list of the covenants running with the land and not so running is given; and see, too, Woodfall, L & T.; Dyson v. Forster, 1909 AC 98.The benefit of a covenant made after 1925 running with the land is to be deemed to be made with the covenantee, his successors in title and the persons deriving title under him or them; and in connection with restrictive covenants, 'successors in title' includes owners and occupiers for the time being of the land intended to be benefited (Law of Property Act, 1925, s. 78). S. 58 of the Conveyanc...
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 (...
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