Residual rights

Residual rights – although the main meaning of this term is of secondary rights, it has different meaning, depending of where it has got application:

1) Within the Corporate Law, it refers to the legal right of shareholder to the profit of the company, and to a liquidation share of the company assets in case of bankruptcy.

2) Within the sphere of Family Law, the residual parental rights are these legal rights, still left after the legal custody of the kid has been forwarded to another person than its biological parent, or towards social facility. Different countries put different rights within this term, but basically these are the approval for adoption of the children, the legal right to visit the child regularly, etc.

The foundation of the term is the word “residue”, which refers to something left over, once something has been taken away. In terms of Inheritance Law it details the assets left after debts are cleared and the specific assts have been gifted.

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