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
Barrel, reservoir, or tank for storing rain runoff. ...
Loose combination of small rocks and pebbles used for a gutter, driveway, landscaping, or roadbed. ...
The American Society of Appraisers, also referred to as ASA, is the largest voluntary membership, a multi-discipline trade association that stands for and promotes its appraiser members. ...
A written agreement between institutional investors to buy or sell ownership shares in mortgages. An institution such as a bank can agree to buy a certain number of shares in a single or ...
Heterogeneous (as opposed to homogenous) means diverse in nature applied to a place or object composed of separate and distinct parts. In other words, heterogeneous describes something that ...
Losses arising from damage to or destruction of property. ...
ADU in real estate is an abbreviation for Accessory Dwelling Units. In everyday discourse, you might have encountered the term under the following nicknames: granny flat, backyard cottage, ...
Deterioration in property resulting from its ordinary use and from the aging process. An examples an apartment building that physically deteriorates over the years. ...
Latin term meaning legal capacity to act on behalf of oneself. ...
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.