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

Statement made verbally. It is better legally to have a written statement because verbal ones without witnesses may be denied. ...

Also called trust deed. A document that conveys title to a neutral third party during the period in which the mortgage loan is outstanding as collateral for a debt. ...

Same as term soil porosity: Extent to which soil has cavities or pores, thereby allowing water to pass through. ...

(1) foreclosed real estate or subject property in a bankrupt estate. (2) Income property which is making inadequate returns and has a negative capitalization rate. ...

Money payments to be delayed for a future date or extended over a period of time. ...

A void property is a real estate property that is immediately available for new owners or renters as it is vacated. Void real estate properties can be occupied at a short notice as no ...

Situation in which an owner of property sells the property to an investor and then leases the property back, usually for a 20- or 30- year term. ...

Giving of a promise or guarantee to the receiver to instill confidence. ...

Recurring obligation or assurance given. ...

Popular Real Estate Questions