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
Freestanding residential housing constructed on its own building lot. Detached housing is the typical type of housing found in suburban developments. ...
Blockbusting is a despicable and illegal racist business practice. Here’s how Blockbusting happens: a real estate agent, or someone posing as one, comes to a homeowner and instills ...
Market price pf all the property prior to a condemnation proceeding. ...
Measures looking at the past , current an future direction of the economy. They may have an impact on the real estate market. Each month government bodies, including the Federal reserve ...
Rating used by lenders and creditors to determine if a credit applicant should be granted credit. It depends on many factors such the applicant's job history, earnings, net worth, etc. Some ...
Reformation in real estate means a legal action to straighten out an erroneous deed, a misleading document, an error, a paragraph, or a contract entirely which resulted from an ...
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to ...
Building recognized because of its history, such as the Booth theater in Washington, Dc. The demolition of historical buildings is not permitted. Historical building modifications are ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
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.