Universal Succession
"When does universal succession occur in corporate law?"
Quick Answer
A legal principle where an entity (or heir) inherits the entirety of another's rights, assets, and liabilities automatically and completely, without needing individual transfers.
Scope and Legal Distinctions
Universal succession transfers a legal position under a recognised statutory route, such as certain corporate restructurings. It is different from assigning one asset or contract.
What to Check in Practice
Identify the legal event, allocation and registry evidence; check any special employee, licence or creditor protections that still apply.
Sources & Authorities
Statutory framework and official guidance for this definition.
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