1) in corporate law, the joining together of two corporations in which one corporation
transfers all of its assets to the other, which continues to exist. In effect one
corporation "swallows" the other, but the shareholders of the swallowed company
receive shares of the surviving corporation. A merger is distinguished from a "consolidation,"
in which both companies join together to create a new corporation. 2) in real property
law, when an owner of an interest in property acquires a greater or lesser interest
in the same property, the two interests become one. Examples a person with a life
estate is given the title to the property by inheritance, the life estate is merged
with the titled interest. 3) another important form of merger occurs when a person
acquires two parcels of land which were once a single lot that had been divided
into two lots by a "lot split" granted by the city or county. If the minimum lot
size has been increased by changes in local ordinances and the two lots are now
sub-standard size, the buyer who acquires title in the two lots may find that they
are "merged" into one lot and he or she has lost the right to build a house on each
lot. To avoid this problem, the buyer should make sure title in each lot is obtained
under a different name, i. e. husband taking one, and wife the other.
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