term:

Succession

succession n

1 a : the order in which or the conditions under which one person after another succeeds to a property, dignity, position, title, or throne [the sequence of to the presidency]
b : the right of a person or line of ancestry to succeed
c : the line of ancestry having such a right
2 a : the act or process of following in order
b : the act or process of one person's taking the place of another in the enjoyment of or liability for rights or duties or both
3 : the act or process by which a person becomes entitled to the property or property interest of a deceased person and esp. an intestate
: the transmission of the estate of a decedent to his or her heirs, legatees, or devisees
;also
: the estate of the deceased including assets and liabilities used chiefly in the civil law of Louisiana

intestate succession
1 : the transmission of property or property interests of a decedent as provided by statute as distinguished from the transfer in accordance with the decedent's will
;also
: the operation of such statutory provisions in transmitting intestate property [would take the property by intestate succession]
2 in the civil law of Louisiana
: property that is not disposed of by will but by operation of statute [who presents himself to claim an intestate succession "Louisiana Civil Code"]

testate succession
: the transmission of property in accordance with a valid will

vacant succession
in the civil law of Louisiana
: an estate that has not been claimed, of which the heirs are unknown, or that has been renounced by all of the heirs
4 a : the continuance of a corporation's status as a legal person [perpetual corporate ]
b : the act or process by which one corporation assumes ownership of another [documents…that all aim to prepare your company for its new owner's "Saul Berkowitz"]
5 : the act or process by which one state takes over or follows upon another and becomes entitled to its rights and position in international law

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.