Dkk
19:38
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
lucrative succession
Read a random definition: dilution
A quick definition of lucrative succession:
Term: Lucrative Succession
Definition: Lucrative succession is a legal term used in Scots law to describe when an heir takes their inheritance in advance. This means that they receive the heritable estate that they would normally inherit upon their ancestor's death before it happens. However, this also means that the heir may be held responsible for their ancestor's debts and obligations. The purpose of this law is to prevent heirs from avoiding responsibility for their ancestor's debts by receiving the inheritance through a gift while their ancestor is still alive.
A more thorough explanation:
Lucrative succession, also known as praeceptio haereditatis, is a legal term used in Scots law. It refers to the act of taking inheritance in advance.
For example, if an heir receives a gratuitous disposition inter vivos (a gift given during the lifetime of the giver) from their ancestor, they may be liable for their ancestor's debts and obligations. This is because the heir is avoiding responsibility for the debts by receiving the inheritance before the ancestor's death.
The purpose of the concept of lucrative succession is to prevent heirs from avoiding their ancestor's debts and obligations. It ensures that heirs are responsible for their ancestor's debts and obligations, even if they receive the inheritance before the ancestor's death.