Traditional "Passing the Torch"

[Justin May]

I am curious whether anyone knows of a historical or customary way in which dojo leadership is passed to a new sensei when he or she leaves. I am part of a university club, and when a sensei leaves, he/she picks the successor. Is there any sort of traditional ceremony, or was there one in the past?
Thanks for any comments,

Justin May

[Amphinon]

I wish that I had some insight...

Fact is, my Sensei passed away and his family named a successor...