Survivance refers to the entitlement of an individual to assume control of an office or estate upon the death of the current holder, provided they have been designated as the successor beforehand.
Survivance is the right of succession to an office or estate of a survivor who was designated before the incumbent’s death. For instance, John was named as the CEO’s successor in the event of his sudden death. When the CEO passed away, John exercised his right of survivance and assumed the position. This means that John was designated as the successor before the CEO’s death, and when the CEO passed away, John had the right of survivance to take over the position without any additional competition or selection process.
Survivance refers to the right of a person to inherit or continue to hold property or rights after the death of another person.
Survivance typically refers to the right of a spouse or joint tenant to inherit property automatically upon the death of the other owner, while inheritance involves the distribution of property according to a will or state laws.
Survivance can be challenged in court if there are allegations of fraud, undue influence, or lack of capacity at the time the survivorship rights were established.
In the event of a divorce, survivance rights may be affected depending on the specific circumstances and any agreements made during the divorce proceedings.
Survivance rights are typically non-transferable, meaning they cannot be assigned or given to another person unless specifically allowed by law or contract.
Survivance rights may have tax implications, particularly in terms of estate and inheritance taxes, so it is important to consult with a tax professional or attorney.
If there is a dispute over survivance rights, it may be necessary to seek legal counsel to resolve the issue through negotiation, mediation, or litigation.
In some cases, survivance rights can be waived through a legal agreement or contract, but it is important to consult with an attorney to ensure that the waiver is valid and enforceable.
To protect your survivance rights, it is important to have a clear understanding of any joint ownership arrangements and to regularly review and update your estate planning documents.
If you believe your survivance rights have been violated, it is important to seek legal advice promptly to understand your options for addressing the situation.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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