What is the term for a gift of real estate made by will?

What is the term for a gift of real estate made by will?

• A. Bequest
• B. Devise
• C. Legacy
• D. Endowment

Answer: (B)

The term for a gift of real estate made by will is "devise." This term specifically refers to the act of transferring real property through a will. When someone uses the term "devise," they are indicating that the property being transferred is an estate or land rather than personal property, which would be referred to by a different term. In the context of wills and estates, a "bequest" generally refers to a gift of personal property, while "legacy" is often used interchangeably with bequest but can imply a specific type of personal property or money. "Endowment" typically relates to funds or property donated to institutions, especially for long-term benefit, and is not used in the context of individual wills. This distinction is essential for understanding estate planning terminology, particularly in differentiating types of gifts made through a will.

The term for a gift of real estate made by will is "devise." This term specifically refers to the act of transferring real property through a will. When someone uses the term "devise," they are indicating that the property being transferred is an estate or land rather than personal property, which would be referred to by a different term.

In the context of wills and estates, a "bequest" generally refers to a gift of personal property, while "legacy" is often used interchangeably with bequest but can imply a specific type of personal property or money. "Endowment" typically relates to funds or property donated to institutions, especially for long-term benefit, and is not used in the context of individual wills. This distinction is essential for understanding estate planning terminology, particularly in differentiating types of gifts made through a will.