Devise

Definition

Devise in plain English

A devise is when someone leaves you real estate — land or a building — in their will. The vocabulary just labels who's who: the person who wrote the will is the 'testator,' and the lucky person receiving the property is the 'devisee.' If instead you inherit stuff that isn't land — money, a car, jewelry — that's called a 'bequest' or 'legacy.' So the trick to remember: real estate through a will = devise; everything else through a will = bequest.

Practice Devise

Who is responsible for administering the estate and ensuring the grandchildren receive the property?

Related National Real Estate Exam terms

• Abstract of title
• Acceleration clause
• Accretion
• Accrued depreciation
• Adjustable-rate mortgage (ARM)
• Ad valorem tax
• Adverse possession
• Agency
• Alienation
• Amortization