Beneficiary: The Person who is entitled to receive funds of property under the terms and provisions of a will, trust, insurance policy or security instrument. In connection with a mortgage loan the beneficiary is the lender.

 

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Beneficiary: The Person who is entitled to receive funds of property under the terms and provisions of a will, trust, insurance policy or security instrument. In connection with a mortgage loan the benef . . . View Full Definition

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 i . . . View Full Definition

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.

Income Beneficiary: Another term for net income.

Undue Influence: Strong enough persuasion to completely overpower the free will of another and prevent him or her from acting intelligently and voluntarily, as in a case where a broker guilty of blockbusting . . . View Full Definition

Blind Trust: A blind trust is created when a third party, such as an investment adviser or other trustee, assumes complete control of the assets held in a trust. Elected officials often set up blind trus . . . View Full Definition

Trust Deed: A form of debt relief where you're unable to pay your debts but have money tied up in assets, such as a house. Creditors can agree that you give everything you own to a trustee (usually an a . . . View Full Definition

Equity: The value of a person's interest in real property after all liens and charges have been deducted.

Discriminant Analysis: In the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security. In the co . . . View Full Definition

Living Trust: An arrangement in which a property owner (trustor) transfers assets to a trustee who assumes specified duties in managing the asset. After payment of operating expenses and trustees fees, th . . . View Full Definition