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
When we think of rural property or rural real estate, most of us think of farms, properties with large areas designated to agricultural land. That’s how rural communities generally ...
Property that is similar in characteristic and when exchanged is a nontaxable transaction. Any property that is not like-king, such as cash (boot), is taxed. As a result, a gain is not ...
Document between two or more parties indicating a need to take or not take a previous action taking place. For example, a bank may commit to make a loan dependent on a satisfactory credit ...
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 ...
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, ...
Market condition in which the prices of real property are declining because of a lack of demand normally associated with a general economic slowdown. ...
The landing at the bottom and/or top of a stair case providing support for the structure. ...
The right to drain water through anothers property through a ditch, pipe, or trench. See also drainage right of way. ...
A bilateral contract is a pretty straightforward term. No horseplay there. It’s a legal agreement between two individuals who both agree to do (or not to do) a specific act. The ...
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.