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

The appraisal approach is used to estimate the value of an asset, based on various factors to reach the closest educated guess of the asset. While an appraisal approach does consider the ...

Judicial action to establish property ownership. In a quiet action, adverse claimants are required to state their claims or be forever stopped from any future title claim. The basic ...

Has not been registered on the companies books. It belongs to the person holding it. See also bearer bond; bearer instrument. ...

In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...

In real estate, the term "preamble" refers to an introductory statement that outlines the fundamental principles and goals guiding the industry's practices. Specifically, in the National ...

Holder of a real estate license who solicits a prospective buyer of property and receives a commission for his efforts. ...

Aerial navigation that may interfere with a property owner, such as creating undue noise. The value of land near an airport may decline in value for this reason. Further airport congestion ...

In real estate, the basis to set an adjustable rate mortgage, such as a 6-month certificate of deposit (CD) rate, cost of funds index, or prime rate. A statistical measure stated as ...

When answering the question of what is a real estate investor, several aspects should be considered. First, a real estate investor, also known as a real estate entrepreneur, allocates ...

Popular Real Estate Questions