What is a successor in interest?

A successor in interest is someone who has obtained the rights and responsibilities of someone who has passed away or transferred their rights to another party. This can happen through inheritance, wills, trusts, or other legal means.

Successors in interest typically have the same legal rights and obligations as the original party they are succeeding. This may include ownership of property, investments, debts, or contracts.

In the case of real estate, a successor in interest may take ownership of a property and be responsible for paying property taxes, homeowners' association fees, and other obligations related to the property.

It is important for successors in interest to properly document their status and ensure that all necessary legal requirements are met to protect their rights and interests. This may involve obtaining a court order, filing paperwork with relevant government agencies, or working with legal counsel to navigate the complexities of succession.