What is the term for the transfer of real or personal property through a will?

The term "devise" specifically refers to the transfer of real property through a will. In the context of wills and estates, when a person makes a will and bequeaths their real property to someone, this action is termed as devising. This establishes a legal mechanism that ensures that the property will pass on to the designated beneficiary upon the decedent's death.

The importance of using the correct terminology lies in the precise nature of estate law, which outlines how assets are to be distributed after someone passes away. Understanding the distinction between relevant terms allows for clarity in estate planning and legal proceedings related to inheritance.

In contrast, the other terms provided do not pertain specifically to the transfer of property through a will. A deed of trust is used in financing properties by transferring legal title to a trustee for the benefit of a lender. A deed in trust generally refers to a document that transfers property to a trust. Lastly, designated agency involves a relationship in real estate transactions where an agent represents a buyer or seller, which does not encompass the concept of transferring property through a will.