SUCCESSOR

successor.

1. A person who succeeds to the office, rights, responsibilities, or place of another; one who replaces or follows a predecessor.

2. A corporation that, through amalgamation, consolidation, or other assumption of interests, is vested with the rights and duties of an earlier corporation. [Cases: Corporations 445.1, 589–590. C.J.S. Corporations §§ 657, 809–810.]

particular successor. Civil law. One who succeeds to rights and obligations that pertain only to the property conveyed.

singular successor. One who succeeds to a former owner’s rights in a single piece of property.

statutory successor. One who succeeds to the assets of a corporation upon its dissolution; specif., the person to whom all corporate assets pass upon a corporation’s dissolution according to the statute of the state of incorporation applicable at the time of the dissolution. See Restatement (Second) of Conflict of Laws § 388 cmt. a (1971). [Cases: Corporations 619. C.J.S. Corporations §§ 863–865.]

universal successor.

1. One who succeeds to all the rights and powers of a former owner, as with an intestate estate or an estate in bankruptcy.

2. Louisiana law. An heir or legatee who succeeds in the entire estate of the deceased or a specified portion of it, rather than by particular title as legatee of a specific thing. • A universal successor succeeds in all of the decedent’s rights and charges, whereas the particular legatee succeeds only to the rights and charges pertaining to the bequeathed thing. La. Civ. Code art. 3506(28).