Primary Beneficiary
- The person to receive the benefits of a trust when distribution occurs. Secondary beneficiaries may be nominated if the primary beneficiary predeceased the trust distribution.
- The person identified as the major beneficiary of an insurance policy. Secondary beneficiaries may also be nominated if the primary beneficiary dies before the policyholder.
Popular Real Estate Terms
To understand what liquidity risk entails, first, we must investigate what liquidity means. On the one hand, it refers to an individual or company’s capacity to meet debts without ...
(1) Return of the principal invested in real estate. It excludes income earned. (2) Collection of a previously written off bad debt. ...
Dehydrated gypsum that is mixed with water to form a rapidly setting material. Plaster of paris sets too rapidly to be practical for most building applications, but it is useful for ...
Underground pit or tank used to store sewage. ...
An individual's bringing a legal action against a defendant. The plaintiff wants relief from the judge against a defendant. An example is investors in a real estate investment trust (REIT) ...
Also called straight bankruptcy. A provision of the 1978 bankruptcy Reform Act providing for a persons property to be divided among creditors to satisfy his/her unpaid debts. Any debtor ...
Easement to build, maintain, and operate a disposal line for sewage. ...
An offset statement defines a specific property owner’s underwritten certificate against their property. The reason behind this action is to set forth the current condition of liens ...
Also called all inclusive trust deed (AITD). A mortgage (trust deed) that encompasses existing mortgages and is subordinate to them. The existing mortgages stay on the property and the new ...
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