Given our understanding of the situation, we can confirm that a fossil classified as a transitional form, will show characteristics both of its ancestors and of the descendants that derived from it.
Transitional fossils are just that, fossilized remains of a transitional phase of evolution. What this means is that as species evolve, there will always be a point in time where a species is at a halfway point in between the species from which it comes, and the species that it will become.
These fossils, due to being a halfway point, will have characteristics that belong to their ancestors, but also characteristics that belong to their descendants, which is only logical considering that evolution is a process that spans many generations, not something instant.
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