Beneficiary
In real estate, a beneficiary refers to an individual or entity designated to receive benefits from a trust, will, or other legal arrangement concerning a property. The beneficiary typically holds an equitable interest in the property, which may include receiving income generated by the property, enjoying its use, or eventually taking ownership upon certain conditions being met, such as the death of the grantor or the fulfillment of specific terms outlined in the legal document. The beneficiary’s rights and responsibilities are governed by the terms of the trust, will, or other legal instrument that establishes their entitlement to the property’s benefits.