what is a legal successor
Successor Law & Legal Definition. A successor is a person or entity who takes over and continues the role or position of another. For example, in trust law, many grantors and their respective spouses act as the initial trustees of a revocable living trust.In this situation, they remain in control until they are incapacitated or die. Then pre-selected successor trustees are appointed in under the terms of the declaration of trust.his situation arises, for example, in nonbankruptcy sales such as bulk transfers, receivership and foreclosure/ UCC Article 9 sales. In in context of a claim that a defective product has caused personal injury, successor liability is more aptly treated as a matter of tort law than contract law.