In real property transactions, a beneficiary typically refers to the lender or bank who is named in a Deed of Trust. Every Deed of Trust will identify a named beneficiary who typically receives the deed of trust in exchange for their loaning money to a homeowner. In real estate transactions, the beneficiary list on a deed of trust is usually a bank; however an individual person can also be listed as a beneficiary. The deed of trust identifies the basic terms of the loan, such as the amount borrowed from the beneficiary/lender.