Beneficiary
Definition of "Beneficiary"
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.
Popular Real Estate Terms
So, you’re out and about your homebuying dream and then you stumble upon this question: what is a condominium? Like, you think you know what is a condo home, but it's so hard to ...
Ownership of property by one individual. ...
Funds that are retained in an account until a certain event occurs. For example, a downpayment on a contract held until full payment is received whereupon the holding funds are credited to ...
Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
A relatively unknown term, laches or the” doctrine of laches,” means failure to assert one’s rights or a claim in a given matter in time. Failing to take action on a ...
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
To acquit, exonerate, absolve, or discredit allegations. ...
Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...
The meaning of direct costs implies such expenses that you can connect straight to a particular goods’ or service’s production, manufacturing, and preparation. As opposed to ...
Comments for Beneficiary
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 15:11:49We're very sorry to hear that, Cheret
Aug 22, 2018 17:29:30You 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!
Do I need to have beneficiary on my house
May 28, 2018 10:22:42Hi, Ester!
May 31, 2018 09:22:17No, 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.
Have a question or comment?
We're here to help.