Beneficiary

Business / Real Estate / Beneficiary: A person who receives benefits from the gifts or acts of another, as in the case of one designated to receive the proceeds from a will, insurance policy, or trust, the real owner, as opposed to the trustee who holds only legal title. With a trust, the trustee holds the legal title, but the beneficiary enjoys the benefits of ownership.

Contingent Beneficiary

Business / Taxes / Contingent Beneficiary: A contingent beneficiary receives the proceeds of an insurance policy, term-certain annuity, individual retirement account (IRA), employer-sponsored retirement savings plan, will, or trust if the prim MORE

Beneficiary Statement

Business / Real Estate / Beneficiary Statement: When an existing loan is to be paid or assumed by a buyer, the escrow agent will obtain a statement of the balance due on the loan so the buyer receives the proper amount of credit. MORE

Income Beneficiary

Business / Finance / Income Beneficiary: Another term for net income. MORE

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