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

Book value is a quintessential term used in the financial world and the real estate business. Though, there are slight differences in its interpretation in these two areas of ...

Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...

When you hear the term annuity, you’re often left wondering what is an annuity? The simplest annuity definition is a financial product designed to ensure cash flows at equal intervals ...

Structure of prefabricated units. ...

Contract that intends to convey property form one individual to another but is defective in one respect. ...

Method of selling and obtains possession, but the seller retains the title. ...

Same as term Veterans Administration Mortgage: Mortgage guaranteed up to 30 years by the Veterans Administration to veterans meeting minimum requirements. Originally established by the ...

Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...

Conversion of real property into money. The breaking up and selling of a real estate company for cash distribution to its creditors and then owners. Chapter 7 of the Federal Bankruptcy ...

Popular Real Estate Questions