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

English-style home. It is usually 2-stories high. The roof is of a hip type. The chimney is on the side of the home. ...

Agreement by a lender to loan money to suitable borrowers within a given time period but without identifying those borrowers. ...

Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner ...

Additional tax liability that the IRS deems to be owed by a taxpayer. A taxpayer can argue the correctness of a deficiency with the IRS. There can be an appeal to the Tax Court without ...

Considerations used by lenders in appraising a prospective homebuyer' credit application. They are: Character, Capacity (cash Flow), Capital, Collateral and Conditions (economic status) ...

Standard language in real estate contracts and prospectuses-usually in small print. ...

Metal hardware within the construction that is typically not visible, such as bolts, nails, and screws. ...

Capability of a party to enter into a contract such as having the financial and physical resources as well as mental competency to meet contractual commitments. ...

When answering the question of what is a real estate investor, several aspects should be considered. First, a real estate investor, also known as a real estate entrepreneur, allocates ...

Popular Real Estate Questions