Issues of protection of property rights to property were significant for mankind in any historical era and in the most diverse socio-political formations. What is most significant in these matters?
Some general points
In the definition and regulation of property legal relations, there are a number of fundamental concepts on which the entire existing legislative base and legal system are based. One of the most significant terms is such a thing as a beneficiary. This is a legal entity or an individual who is the holder of property rights to a particular property and accordingly receives income from such ownership. Or making a profit from some kind of commercial operation. In legislative and legal practice, there are a number of nuances that are somehow related to this term. Let's try to consider some of them in more detail.
Who can be attributed to beneficiaries?
Sometimes in domestic legal practice such an international analogue of this term is used as the "beneficiary" ("beneficiary"). In its meaning, it fully coincides with the concept of "beneficiary". This is nothing more than a synonym historically dating back to Roman law. In Russian legal and economic practice, both terms are found equally often. Who are usually referred to as beneficiaries? Most often, the beneficiary is a person who receives income in the form of rent from his property transferred to trust or for use by other persons or organizations. The relationship with the beneficiary in this case, the users of his property occur on specially agreed conditions.
Beneficiary-insurer
This term is also widely used in insurance. In the insurance business, a beneficiary is an individual or legal entity that receives payments under a contract in accordance with the conditions specified in the insurance policy. This term is also very common in the law of succession. Here, the beneficiary is a person who receives certain property or financial rights in accordance with a will or applicable inheritance law. In addition, it is also customary to classify as beneficiaries individuals to whom banking structures provide all sorts of financial preferences.
Legislative regulation
The current legislation has accordingly developed the rights and obligations that the beneficiary has, regardless of whether he is a legal entity or an individual. So, in particular, according to the current Civil Code of the Russian Federation, the beneficiary of a legal entity has the right to receive insurance payments in the cases stipulated in the contract on insurance of his property, if such was damaged as a result of the insured event. The legal framework in the field of property relations and financial obligations has been worked out in sufficient detail at present, the rights and obligations of both parties to the insurance contract are spelled out in an exhaustive way. In addition to the Civil Code, insurance relations are regulated by the Law of the Russian Federation of November 27, 1992 "On the organization of insurance business in the Russian Federation".
Obligations and rights of the beneficiary
Insurance of your tangible property and other type of property gives its owner confidence in receiving financial compensation in the agreed amount if the property is damaged as a result of exposure to natural factors or any aggressive criminal offenses. But the insured beneficiary in the manner prescribed by law also bears a number of obligations to the insurer, with whom he entered into an appropriate contract. The first of these is the timely payment in full of the contributions stipulated in the contract, or as they are often called “insurance premiums”.
Additional obligations of the beneficiary
In addition to the mandatory payment of insurance premiums, the policyholder-beneficiary has a number of obligations to the insurer, which is called a “second order”. But from this they do not become less important. The performance of the contract upon the occurrence of an insured event without observing these obligations is not possible. First of all, they should include the provision to the insurer of the entire documentary base on the insurance object in full. Timely informing such of all changes that have occurred and any relevant circumstances. And most importantly, the insurer must be informed of the occurrence of an insured event within the time period specified in the insurance contract. Of course, the beneficiary is obliged to fulfill this clause in that situation if he intends to exercise his right to receive financial compensation due to him as a result of an insured event.
What makes an insurer pay?
Upon the occurrence of an insured event, the insurer is obliged to fulfill, according to the terms of the contract concluded by him, all financial obligations assumed by him to the owner of the affected property. These payments in certain cases can be more than significant. There are frequent cases when in order to fulfill their insurance obligations the insurer has to resort to external financial loans on cumbersome conditions. What makes him do it? The point here is that insurance is, as they say, “a long-term game” and “long-distance running”. And only one who is able to build a strategy for the development of his business for the long term can win here. The insurer, steadily fulfilling its financial obligations, gains a reputation. And consequently, the client base, the insurance premiums of which will necessarily cover for a certain period of time all the expenses incurred by him for the performance of his financial obligations.
