beneficiary
ben·e·fi·cia·ry /ˌbe-nə-'fi-shē-ˌer-ē, -'fi-shə-rē/ n pl -ries: a person or entity (as a charity or estate) that receives a benefit from something: as
a: the person or entity named or otherwise entitled to receive the principal or income or both from a trust compare settlor, trustee
contingent beneficiary: a beneficiary that may receive proceeds from a trust depending on the occurrence of a specified event (as the death of another beneficiary)
income beneficiary: a beneficiary that according to the provisions of a trust is to receive income but not the principal of the trust
◇ A trust may provide for income to be paid to someone (as a spouse) for his or her lifetime and then for payment of the principal to another person. A trustee is sometimes allowed to distribute some of the principal of the trust to an income beneficiary when necessary for the support of the beneficiary if support of the beneficiary was the purpose of the trust.
b: the person or entity named by the insured of a life insurance policy to receive the proceeds upon the insured's death
contingent beneficiary: a beneficiary named to receive the insurance proceeds if the primary beneficiary has died – called also secondary beneficiary;
pri·ma·ry beneficiary /'prī-ˌmer-ē-, -mə-rē-/: a beneficiary named to receive the insurance proceeds before any other
sec·ond·ary beneficiary /'sek-ən-ˌder-ē-/: contingent beneficiary in this entry
c: a person or entity entitled under a letter of credit to demand payment from the issuer of the letter
d: a person or entity that benefits from a promise, agreement, or contract; esp: third-party beneficiary in this entry
the contractual beneficiaries...are mortgagees and investorsKey Pac. Mortg. Inc. v. Industrial Indem. Co., 845 P.2d 1087 (1993)
creditor beneficiary: a direct beneficiary whom the party paying for the other party's performance intends to benefit as payment for a debt or obligation compare donee beneficiary in this entry
direct beneficiary: a third-party beneficiary to a contract whom the parties to the contract intended to benefit compare incidental beneficiary in this entry
donee beneficiary: a direct beneficiary whom the party paying for the other party's performance intends to benefit as a gift or donation
incidental beneficiary: a third-party beneficiary to a contract whom the parties to the contract did not intend to benefit compare direct beneficiary in this entry
third–party beneficiary: a person or entity that is not a party to but has rights under a contract made by two other parties

Merriam-Webster’s Dictionary of Law. . 1996.

beneficiary
I noun beneficiare, donee, grantee, heir, heiress, inheritor, legatee, one who receives, payee, receiver, recipient, usufructuary associated concepts: beneficiary of a trust, beneficiary under a will, cestui que trust II index devisee, donee, grantee, heir, legatee, receiver, recipient, successor, transferee

Burton's Legal Thesaurus. . 2006


beneficiary
n.
Someone who benefits from someone else’s act, such as a person for whom property is held in trust, the recipient of the proceeds of an insurance policy, or someone named in a will as a recipient of property.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


beneficiary
a person who has or is entitled to a beneficial interest in property. The term is most frequently encountered in relation to gifts by will or entitlements under a trust. In English law, a beneficiary is sometimes called a cestui que trust. Beneficial interest is a right of enjoyment of property, as opposed to merely nominal ownership. For example, if property is held in trust, the trustees have the nominal ownership (or legal interest) in the trust property that they hold for the benefit of others. The entitlement of those others is called the beneficial (or equitable) interest.

Collins dictionary of law. . 2001.


beneficiary
A person or organization legally entitled to receive benefits through a legal device, such as a will, trust, or life insurance policy.
Category: Wills, Trusts & Estates

Nolo’s Plain-English Law Dictionary. . 2009.

beneficiary
beneficiary (of a gift, will or trust)
England, Wales
In the context of a gift, will or trust, a person who receives a gift of money or other assets from a benefactor. The gift can be in the form of an outright gift, or in held in trust for the beneficiary.
+ beneficiary
USA
Under a letter of credit, the party to whom and for whose benefit the letter of credit is issued.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


beneficiary
n. A person entitled to an advantage, benefit, or profit (such as an inheritance under a will or the proceeds of an annuity, insurance policy, or property held in trust) arising from an appointment, assignment, disposition, instrument, or legal arrangement.
@ creditor beneficiary
A third-party beneficiary who is to receive the benefit of a contract in satisfaction of a debt, duty, or liability owed to them by the party who purchased the benefit. Under certain circumstances, the execution of the contract itself may discharge the obligation. In any case, the contract must be primarily for the third person's benefit.
=>> beneficiary.
@ donee beneficiary
A third-party beneficiary who is to receive the benefit of a contract as a gift from the party who purchased the benefit.
+ donee beneficiary
n. A third party who receives the benefit of a gift made to a donee.
=>> beneficiary.
@ incidental beneficiary
A person who is not a party to, but is the unintended beneficiary of, a contract or trust. Such a person has no legally enforceable right to the benefit they receive.
=>> beneficiary.
@ intended beneficiary
A person who is not a party to a contract or trust, but is intended by the parties to benefit from the contract or trust. Such a person has the ability to legally enforce the contract or trust once their right to the benefit vests.
=>> beneficiary.
@ third-party beneficiary
A person who is not a party to, but is the intended beneficiary of, a contract.
=>> beneficiary.
@

Webster's New World Law Dictionary. . 2000.


beneficiary
An organization or a person for whom a trust is created and who thereby receives the benefits of the trust. One who inherits under a will. A person entitled to a beneficial interest or a right to profits, benefit, or advantage from a contract.

Dictionary from West's Encyclopedia of American Law. 2005.


beneficiary
I
An organization or a person for whom a trust is created and who thereby receives the benefits of the trust. One who inherits under a will. A person entitled to a beneficial interest or a right to profits, benefit, or advantage from a contract.
II Someone named to receive property or benefits in a will. In a trust, a person who is to receive benefits from the trust.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

beneficiary
n.
   a broad definition for any person or entity (like a charity) who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution. There is also an "incidental beneficiary" or a "third party beneficiary" who gets a benefit although not specifically named, such as someone who will make a profit if a piece of property is distributed to another.

Law dictionary. . 2013.

Look at other dictionaries:

  • Beneficiary — Ben e*fi ci*a*ry, a. [Cf. F. b[ e]n[ e]ficiaire, LL. beneficiarius.] 1. Holding some office or valuable possession, in subordination to another; holding under a feudal or other superior; having a dependent and secondary possession. [1913 Webster] …   The Collaborative International Dictionary of English

  • beneficiary — The person who is in receipt, or will be in receipt, of some asset, thing, or thing of value. For example, a person can make a will naming someone, usually their spouse, as beneficiary of their estate. (Dictionary of Canadian Bankruptcy Terms)… …   Glossary of Bankruptcy

  • Beneficiary — Ben e*fi ci*a*ry, n.; pl. {Beneficiaries}. 1. A feudatory or vassal; hence, one who holds a benefice and uses its proceeds. Ayliffe. [1913 Webster] 2. One who receives anything as a gift; one who receives a benefit or advantage; esp. one who… …   The Collaborative International Dictionary of English

  • beneficiary — 1610s (n.), 1620s (adj.), probably via Fr. bénéficiaire, from L. beneficiarius enjoying a favor, privileged, from beneficium (see BENEFICE (Cf. benefice)) …   Etymology dictionary

  • beneficiary — [n] person who gains, benefits almsperson, assignee, devisee, donee, grantee, heir, heiress, inheritor, legatee, payee, possessor, receiver, recipient, stipendiary, successor; concepts 355,423 Ant. giver, payer …   New thesaurus

  • beneficiary — ► NOUN (pl. beneficiaries) ▪ a person who benefits from something, especially a trust or will …   English terms dictionary

  • beneficiary — [ben΄ə fish′ē er΄ē, ben΄əfish′ər ē] adj. [L beneficiarius] of or holding a benefice n. pl. beneficiaries 1. a holder of a benefice 2. anyone receiving benefit 3. a person named to receive the income or inheritance from a will, insurance policy,… …   English World dictionary

  • beneficiary — /benafish(iy)ary/ One who benefits from act of another. A party who will benefit from a transfer of property or other arrangement. Examples include the beneficiary of a trust, the beneficiary of a life insurance policy, and the beneficiary of an… …   Black's law dictionary

  • beneficiary — /benafish(iy)ary/ One who benefits from act of another. A party who will benefit from a transfer of property or other arrangement. Examples include the beneficiary of a trust, the beneficiary of a life insurance policy, and the beneficiary of an… …   Black's law dictionary

  • beneficiary — Term used to refer to the person who receives the benefits of a trust or the recipient of the proceeds of a life insurance policy. Bloomberg Financial Dictionary * * * beneficiary ben‧e‧fi‧cia‧ry [ˌbenˈfɪʆəri ǁ ˈfɪʆieri] noun beneficiaries… …   Financial and business terms

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