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
Legal obligation to pay taxes associated with owning property or earning income. For example, a real estate owner must pay property taxes. ...
The term over-improvement in real estate defines a substantial and somewhat exaggerated land improvement compared to other properties in the area. For example, an individual builds at a ...
People say time is money. The old-age cliche applies more than ever in our case as we define what the Time Value of Money (TVM) means. You’ll find the term time value for money ...
Government owned lands, for conservation purposes or for specific uses such as dams and hydropower. Public lands are owned by federal, state, and local governments. Many public lands are ...
Flood insurance is a type of home insurance created to protect a homeowner’s property against damages caused by floods. Flood insurance is typically not included in the regular ...
Form of real estate organization created by an agreement between two or more individuals who contribute capital and/or their services. Advantages are: it is easily established with minimal ...
The appraisal approach is used to estimate the value of an asset, based on various factors to reach the closest educated guess of the asset. While an appraisal approach does consider the ...
Small furnace placed between the studs of a wall. It is typically electric, but in the past more frequently was gas. ...
Tax deduction permitted upon the transfer of property from one spouse to another. The deduction is allowed under the federal gift tax for lifetime transfers or under the federal estate tax ...
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.