what does the word payee mean
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"What Does the Word ""payor"" Mean?" The term payor, or payer, derives from the Latin word pac?re, which meant to pacify. In addition to being used as noun, payor can also be used as a verb to denote one is paying for something, such as a fine or service, or to note that one pays for something in metaphorical terms. The antonym of payor is payee, which means one to whom money is paid..
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payoff Definition of payoff for English Language Learners. : 1  a good result : the advantage or benefit that is gained from doing something. : 2  something valuable (such as money) that you give to someone for doing something and especially for doing something illegal or dishonest. : 3  money that a company gives to a worker who is being forced to leave a job.
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DEFINITION of 'Grantee' DEFINITION of 'Grantee'. The recipient of some type of property. In its most literal sense, a grantee is the recipient of a grant, a sum of money intended to fund a specific undertaking (like a college education or a research project). In real estate, the grantee is the recipient of a property - the person who will be taking title, as named in the the legal document used to transfer the real estate.
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What is PAYER, or PAYOR? payer, payer bank, floating-rate payer, payor benefit, third party payor, payer swaption, notice of dishonor, personal demand, payee, demand draft Link to This Definition Did you find this definition of PAYER, or PAYOR helpful? You can share it by copying the code below and adding it to your blog or web page.
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payee Definition of payee. : one to whom money is or is to be paid The payee must endorse the back of the check.
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"The Meaning of ""Grantor"" and ""Grantee""" The Meaning of Grantor and Grantee Grantor and Grantee are two terms that designate people who are involved in the sale of property. Find out about the meaning of Grantor and Grantee with the help of a real estate professional in this free video clip.
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- A representative payee is a person or an organization. We appoint a payee to receive the Social Security or SSI benefits for anyone who can’t manage or direct the management of his or her benefits.
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- Legal Definition of grantee. : one to whom a grant is made; specifically : one to whom a grant by deed is made.
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- An accounts payable is a Liability account. Payable being the key word, meaning something you have to Pay or Owe.ALL payable accounts are liabilities no matter what th … ey are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability.
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What is a 'Drawee' Drawee is a legal and banking term used to describe the party that has been directed by the depositor to pay a certain sum of money to the person presenting the check or draft. A typical example is if you are cashing a paycheck. The bank that cashes your check is the drawee, your employer who wrote the check is the drawer, and you are the payee.
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What does payable on death mean in Urban Dictionary? What does payable on death mean in Urban Dictionary?: A type of bank-account that will leave every one of its contents toward specified heir upon the loss of the account's original owner. This keeps the…
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- Two terms that are well understood in insurance circles are (1) mortgagee provision and (2) loss payee or loss payable provision. The first term is used with reference to real estate property and is a necessary provision when a financial institution lends money to the purchaser of real estate.
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grantee grantee. n. the party who receives title to real property (buyer, recipient, donee) from the seller (grantor) by a document called a grant deed or quit claim deed.
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payer (or payor) - Legal Definition payer (or payor) - Legal Definition. A person who pays a debt or who is obliged to pay a debt by some written instrument. Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey. Used by arrangement with John Wiley & Sons, Inc.
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- A representative payee, also referred to as a rep payee, is a person, agency, or organization appointed by Social Security to get your SSI and SSDI benefits for you and use those benefits to meet your needs.
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What is a 'Payee' In a banking situation, the payee must have an active account that is in good standing, through which funds can be transmitted from the payer. In the case of a promissory note, through which one party promises to pay another party a predetermined sum, the party receiving the payment is known as the payee.
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- a person to whom a check, money, etc., is payable. Origin of payee. 1750-1760.
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What is a Grantee? Definition and Explaination A grantee is the entity receiving title to a piece of real estate. The grantee is the buyer. When the grantee sells the property, the grantee becomes the grantor. Simply put, the grantee is the recipient. You can be a grantee even without receiving a property deed. For example, a land contract features both a grantor and a grantee. The grantor is the owner and the grantee is the buyer who is acquiring an equitable interest, but not bare legal interest, in a property.
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Frequently Asked Questions A payee acts for the beneficiary. A payee is responsible for everything related to benefits that a capable beneficiary would do for himself or herself. We encourage payees to go beyond just managing finances and be actively involved in the beneficiary’s life. The following lists the required duties of a payee.
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grantee Grantee. An individual to whom a transfer or conveyance of property is made. In a case involving the sale of land, the buyer is commonly known as the grantee. grantee. n. the party who receives title to real property (buyer, recipient, donee) from the seller (grantor) by a document called a grant deed or quit claim deed. (See: grant) grantee noun acceptor, beneficiary, devisee, donee, recipient, taker Associated concepts: grantee of power
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Identifying the Payee The payee of a payment made to a disregarded entity is the owner of the entity. If the owner of the entity is a foreign person, you must apply NRA withholding unless you can treat the foreign owner as a beneficial owner entitled to a reduced rate of withholding.
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payable 1. Requiring payment on a certain date; due. 2. Requiring payment to a particular person or entity. 3. Capable of producing profit: a payable business venture. n. A debt that is owed to a creditor: tried to balance inventory, payables, and receivables.
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- Definition of payor in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is payor? Meaning of payor as a legal term. What does payor mean in law?
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pay homage to Word by Word Definitions. payplay. : to make due return to for services rendered or property delivered. : to engage for money : hire. : to give in return for goods or service. : something paid for a purpose and especially as a salary or wage : remuneration. : the act or fact of paying or being paid. : the status of being paid by an employer : employ. : containing or leading to something precious or valuable. : equipped with a coin slot for receiving a fee for use. : requiring payment.
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What is a 'Payee' A payee is the party in an exchange who receives payment. A payee is paid in cash, check or other transfer medium by a payer, with the payer receiving goods or services in return. The name of the payee is included in the bill of exchange, and it usually refers to a natural person or an entity such as a business, trust or custodian.
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Definition of Payee Positive Pay This can result in an overdrawn bank account and the rejection of other payments, incurring both bank fees and the anger of payees with dishonored checks. The U.S. Social Security Administration recommends the payee positive pay system as a precautionary measure for organizations and individuals alike.