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A devise is real property given by will. [1] A bequest is personal property given by will. [2] Today, the two words are often used interchangeably due to their combination in many wills as devise and bequeath, a legal doublet. The phrase give, devise, and bequeath, a legal triplet, has been used for centuries, including the will of William ...
A specific devise, is a specific gift in a will to a specific person other than an amount of money. For example, if James's will states that he is leaving his $500,000 yacht to his brother Mike, the yacht would be a specific devise. A general devise, is a monetary gift to a specific person to be satisfied out of the overall estate. For example ...
Demonstrative Legacy – a gift of a specific sum of money with a direction that is to be paid out of a particular fund. Descent – succession to real property. Devise – testamentary gift of real property. Devisee – beneficiary of real property under a will. Distribution – succession to personal property.
The U.S. Permanent Committee for the Oliver Wendell Holmes Devise is a committee established by Congress in 1955 after the late Associate Justice Oliver Wendell Holmes Jr. bequeathed a portion of his estate to the United States in 1935. The Congress used the gift to establish the Committee to document and disseminate the history of the Court.
A specific legacy (or specific bequest) is a testamentary gift of a precisely identifiable object, distinguished from all other things of the same kind — such as, a gift of a particular piece of jewelry.
A specific devise is a devise of a distinct piece of real estate to a certain person or persons. It is analogous to a specific legacy, but is limited (by the word "devise") to real estate. Furthermore, the testator intends for that very particular property and only that property to satisfy the devise.
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Legacy, testamentary gift of personal property, traditionally of money but may be real or personal property Life estate , [ 1 ] a concept used in common and statutory law to designate the ownership of land for the duration of a person's life