Succession in general

1. DEFINTIONS

Succession. Succession – is a mode of acquisition by virtue of which the property, rights and obligations to the extent of the value of the inheritance, of a person are transmitted through his death to another or others either by his will or by operation of law. (Article 774, Ibid.)

Decedent. Decedent – is the general term applied to the person whose property is transmitted through succession, whether or not he left a will. If he left a will, he is also called the testator. (Article 775, Ibid.)

Inheritance. The inheritance – includes all the property, rights and obligations of a person which are not extinguished by his death.(Article 776, Ibid.)

The inheritance of a person includes not only the property and the transmissible rights and obligations existing at the time of his death, but also those which have accrued thereto since the opening of the succession.(Article 781, Ibid.)

Moment of death. The rights to the succession are transmitted from the moment of the death of the decedent. (Article 777, Ibid.)

2. MODES OF SUCCESSION

3 modes of succession:1) Testamentary;2) Legal or intestate; or3) Mixed.(Article 778, Ibid.)

Testamentary succession. Testamentary succession is that which results from the designation of an heir, made in a will executed in the form prescribed by law. (Article 779, Ibid.)

Legal or intestate succession. Legal succession or intestate succession is one which results if there is no last will and testament and/or du...

Already a subscriber? Log in below. Not yet a member? Subscribe.

Similar Posts