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

Named after Sir Robert Torrens, a British administrator in Australia. The torrens system is a state-sponsored system of land title registration, not applicable in states, such as California. ...

Note having more than one maker, if one or more of the makers default on the note, all makers are sued jointly, rather than just one or all, to make restitution ...

(1) Bottom of something used as support. (2) Most essential element. (3) Type of interest rate used when computing compound interest equal to: (1 + I). (4) Justification of an argument or ...

The definition of a census-designated place or CDP is rather complex and difficult to understand. We are going to try to explain it as much as possible. Starting from the top and working ...

In everyday discourse, a merger defines the combination of two entities, be it real estate or two companies, into a single and legit one. We should make a difference between a merger and ...

The adjusted sales price is also known as price adjustment or adjustment in appraisals. A definition for the adjusted sales price is the appraisal determined through the market approach or ...

Is a stockholder-owned corporation known as Freddie Mac. Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and packages them as securities which are ...

Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are ...

Company formed for the purpose of owning securities of one or more real estate corporations and assuming control over their practices and management. The other corporations are generally ...

Popular Real Estate Questions