Definition of "Beneficiary"

Albert  Goodin real estate agent

Written by

Albert Goodinelite badge icon

Highlight Realty

Individual who will receive an inheritance upon the death of another. The proceeds of an insurance policy may be in a lump sum annuity. Real estate also passes to the beneficiary.

Comments for Beneficiary

Chere Chere't Thomas said:

Mother is exucutive of estate over My grandfathers living trust & has informed me that I will not inherit anything from his estates & has cut me off from all support from family leaving me homeless & no explanation as to why she is doing this to me & my children. I feel as if she is stealing whatever is left to me

Aug 22, 2018  15:11:49

 
Real Estate Agent

We're very sorry to hear that, Cheret
You should talk to a real estate lawyer to see your options, to see if there's something you can do; if you have any rights on this situation that can prove what's being done to you is out of bad faith.
Good luck!

Aug 22, 2018  17:29:30
 
Ester O Sanchez Ester O Sanchez said:

Do I need to have beneficiary on my house

May 28, 2018  10:22:42

 
Real Estate Agent

Hi, Ester!
No, you don't need to have. But it will make it easier for everyone when the owner of the house passes away, because the decision of inheritance of the house becomes automatic; it avoids going to the lengthy process of probate.

May 31, 2018  09:22:17
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Partial fulfillment. Pro tanto is normally used in relation to the partial satisfaction of a claim. For example, a pro tanto settlement in an eminent domain action will not prejudice any ...

See effective tax rate. ...

The definition of abatement is a reduction of penalties or a tax deduction for individuals or businesses. It can often be accessed upon an overpayment of taxes, if the company or individual ...

A lien against all of the property of a debtor. A general lien may be obtained either through a judgment lien, where the court issues a judgment, a lien by creditors on a state, or through ...

Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...

Relationship between individuals or entities whereby rights given to one are returned in kind to the other. An example is where one person has the right to use facilities of another with ...

Certificates that pass-through principal and interest payments to investors. ...

Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, ...

Conifer wood, such as pine and redwood. ...

Popular Real Estate Questions