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What is PRIVITY? The term âprivityâ means mutual or successive relationship to the same rights of property. The executor is in privity with the testator, the heir with the ancestor, the assignee with the assignor, the donee with the donor, and the lessee with the lessor. Union Nat. Bank v. International Bank, 123 111.
(plural prigs). 1  A person who demonstrates an exaggerated conformity or propriety, especially in an irritatingly arrogant or smug manner. ( 2 UK, archaic) A petty thief or pickpocket. ( 3 archaic) A conceited dandy; a fop.