Legal Definitions - singular successor

A singular successor refers to an individual or entity that acquires a specific right, asset, or obligation from another party. This is distinct from a "universal successor," who takes on all rights and duties (for example, an heir inheriting an entire estate). A singular successor only takes on a particular, defined interest, often through a specific legal act like a sale, assignment, or a particular gift in a will.

Here are some examples to illustrate this concept:

• Example 1: Sale of a Business Asset

  Imagine a small manufacturing company that decides to sell only one of its specialized machines to another business. The purchasing business becomes the singular successor to the ownership rights of that specific machine. They do not acquire the selling company's other assets, debts, or overall business operations, only the rights to that particular piece of equipment.

• Example 2: Assignment of a Lease Agreement

  Consider a tenant who has a lease for a commercial office space. If the lease agreement allows it, the tenant might assign their remaining lease term to a new business. In this scenario, the new business becomes the singular successor to the original tenant's rights and obligations under that specific lease contract. They are now responsible for paying rent and adhering to the lease terms for that particular office space, but they don't take over any other contracts or liabilities of the original tenant.

• Example 3: Specific Bequest in a Will

  Suppose a will specifies that a particular antique car is to be given to one specific person, while the rest of the estate (like a house, bank accounts, and other possessions) is to be divided among other beneficiaries. The person receiving the antique car is the singular successor to the ownership of that specific vehicle. They do not inherit the entire estate, only that particular item as designated by the will.