I purchased a income generating domain that makes about 120/month is the seller supposed to give me other content besides the name because I'm not quite sure how to get the revenue to me. Do I need to set up certain things in order for the earnings to go to me or is it automatic once you have the domain?
How does it make it's money? with selling of products or with adwords clicks. There are many ways to earn form a website. I think we need more info on this one.
All revenue generated from the previous owner is theirs. Unless you bought the entire site you will have to generate incom in your own way with a new site.
I can not see how you can get revenue with out setting up adsence in your name. Ask the seller the questions only he or she can give you the insight.