Legal Definitions - descendible

Descendible describes property or rights that are legally capable of being passed on to another person, such as an heir or beneficiary, upon the death of the current owner. This transfer can occur either through a valid will or, in the absence of a will, according to the laws of inheritance (known as intestacy laws) in the relevant jurisdiction.

Here are some examples to illustrate this concept:

• Example 1: A Family Residence

  Imagine an individual who owns their house outright. This house is considered descendible property. Upon the owner's death, the ownership of the house will legally transfer to their designated heirs, perhaps their children, either as specified in a will or, if no will exists, according to the state's inheritance laws. The fact that the house can be inherited by someone else after the owner's passing makes it descendible.

• Example 2: A Stock Investment Portfolio

  Consider a person who has built a substantial investment portfolio consisting of various stocks and bonds. These financial assets are descendible. When the owner dies, the ownership of these stocks and bonds will transfer to the beneficiaries named in their will or trust, or to their legal heirs if there is no will. This ability for the portfolio's value and ownership to pass to others upon death demonstrates its descendible nature.

• Example 3: A Copyright for a Book

  A novelist holds the copyright to all of their published books. This copyright, which grants exclusive rights to reproduce and distribute their work, is a form of intellectual property that is often descendible. Upon the author's death, the copyright for their novels can be passed on to their estate and then to their heirs, who would then hold the rights to the books for the remaining term of the copyright. This shows that intangible rights, not just physical assets, can also be descendible.