bequest

Bequest is a gift of personal property made through a will . Traditionally, bequests have been used for the giving of personal property, while devices have been used for the giving of real property . However, bequests can also refer to real property if the will clearly indicates an intent to give real property as a bequest to another person.

Bequests can be subject to various conditions , such as being effective only after the occurrence of certain events. A bequest can be a specific asset or a residue , i.e., something that remains after some disposition has been made.

[Last reviewed in July of 2022 by the Wex Definitions Team ]

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