What does payee mean?
Payee means the person to whom a payment of money is being made. If I transfer money from my account to you, then you are the payee. Similarly, if you give me a check, I become the payee.
A person in whom money is paid
Examples of representative payee fraud include improper application for such position: for example, you cannot be a representative payee if you are a convicted felon in the state for which you are applying. Other forms of representative payee fraud include improper spending of the beneficiaries money for the payee's own needs instead of the beneficiary. Filing a false payee report is also a form of representative payee fraud.
The loss payee is any entity that has financial interest in the vehicle (usually a financial institution) that notifies the insurance company and the policy holder of that interest in writing. Any entity can be a loss payee, including your father, if he can show financial interest. The loss payee is usually the finance company that holds title to your vehicle. In the event of significant damage to the vehicle the loss payee needs to…
"Account Payee" Cheque cannot be endorsed. only payee of the cheque is entitled to get credit of the amount i.e., the amount will be credited to his account only. However if it is "Not Negotiable" crossing it does not mean that the cheque can not be transferred further it can still endorsed but the transferee will not get better title than the transferor.
What will happen if a sister doesn't sign the paperwork for my mother to be the payee representative of the home after my father's death?
When my father passed away, my mother was not on the title to the house, she is now trying to be the payee/representative of the estate. One of my 12 siblings is not sending the paperwork in. Does this mean that my mother will not be the owner of the home? Does this mean a contested probate/will? How long will this take for my mother to be on the title of the home? What does…
It depends on who you are and who the money order was made payable to. If you signed the back and are the purchaser and not the payee you could try to take the money order to your bank, with the payee both with your IDs, and ask if they will cash it for the payee. You could also take it back where you purchased the money order and ask their help.
To my knowledge there are no loss payees on general liability policies as there is no property coverage on general liability. Loss payee is a term on a property policy used to indiciate that the loss payee listed would get paid in the event there was a property claim. Most frequently a mortgagee or lender asks to be loss payee. General liability policies have additional insured endorsements to extend coverage to third parties who you…