§ 25.133 - Persons having right of succession.

Under the conditions indicated in § 25.132, the right of succession will pass to certain persons in the following cases:

(a) Death. The widowed spouse or child, or executor, administrator, or other legal representative of the taxpayer;

(b) Succession of spouse. A husband or wife succeeding to the business of his or her spouse (living);

(c) Insolvency. A receiver or trustee in bankruptcy, or an assignee for benefit of creditors;

(d) Withdrawal from firm. The partner or partners remaining after death or withdrawal of a member.