Heritable Obligation Law and Legal Definition
Heritable obligations refer to those obligations which do not expire with the death of the contracting party. The obligation is transferred to the estate on the death of the person who held those rights.
A heritable obligation is one from which there arises the right of the heirs and assigns of one party to enforce the performance against the heirs of the others. Heritable obligations and stipulations give to and impose upon heirs, assigns and other representatives the same duties and rights that the original parties had and were liable to, except that beneficiary heirs can only be liable to the amount of the succession. Every obligation shall be deemed to be heritable as to both parties, unless the contrary be specially expressed or necessarily implied from the nature of the contract. [Bogart v. Caldwell, 66 So. 2d 629, 632 (La. Ct. App. 1953)].
Legal Definition list
Related Legal Terms
- Alternative Obligation
- Bargaining Obligation Dispute [Administrative Personnel]
- Collateralized Mortgage Obligation
- Covered Clearing Obligation
- Covered Contractual Payment Obligation
- Delictal Obligations
- Direct Loan Obligation
- Doctrine of Obligation
- Domestic Support Obligation ( Bankruptcy)
- Eligible Obligation