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The document is an agreement between a Testator and two Grantors regarding the conveyance of property. It outlines the responsibilities of both parties, including the execution of a deed by the Grantors to transfer property to the Testator, and the creation of a Will by the Testator that bequeaths property to the Grantors. The agreement includes provisions for marketable title, attorney approval of documents, custody of the Will, and stipulations in case of the death of either Grantor before the Testator.

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What does acquired by devise mean?

Property acquired by gift, devise, or descent means first, by gift, meaning someone provided it to you, even if that was your spouse as a Christmas gift. Devise means through a will instrument. That means it was sent to you through someone who passed away.

What does devise mean in a will?

Devise refers to a gift given by means of the will of a decedent of an interest in real property . [Last reviewed in August of 2022 by the Wex Definitions Team ]

What does it mean to bequeath a property?

To bequeath is to give personal property via a will , where the personal property owned by the decedent at the time of death is disposed of as a gift . Traditionally, bequeathing has been used to give personal property, while devising has been used to give real property .

What is the difference between a devise and an inheritance?

A devisee means a person designated in a will to receive a devise, which is defined as a testamentary disposition of real or personal property. Whereas heirs will always be family to the deceased, anyone named in a decedents will is considered a devisee including friends, co-workers, and so on.

What does devise and bequeath mean?

a bequest is a gift of personal property made by a will other than land, such as an item of jewellery or a car. a devise is a gift by will of real property, such as a house. a legacy also refers to gifts of personal property but is more widely used to cover all types of gifts, including property, personal items and

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