devisee


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devisee

A person who inherits real property by virtue of provisions in a will.

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301) This is sound drafting advice for any will as it identifies heirs and devisees by name and reduces perpetuity problems inherent in generalized dispository language.
Regarding suits to establish claims of creditors, devisees, heirs, and others against a decedent's estate, the Fifth Circuit enunciated the proper standard some 25 years ago: The federal court is limited to declaring the validity of the asserted claim.
It does not create immunity from testifying in favor of a personal representative or a devisee having knowledge of the alleged oral communication.
The memorandum also states that under New York and New Jersey law (and the laws of many other states), title to real property passes directly from the decedent to the heirs and devisees.
A special use valuation election was included in the decedent's Federal estate tax return, accompanied by a recapture agreement signed by both devisees.
Arizona law requires a devisee to survive the testator by at least 120 hours unless the will includes "some language dealing explicitly with simultaneous deaths or deaths in a common disaster, or requiring that the devisee survive the testator or survive the testator for a stated period in order to take under the will.
Further, wills can be drafted to provide for individual or class gifts, with alternative devises to beneficiaries, rather than to the descendants of a deceased devisee.
691(a)(1) provides that items of income in respect of a decedent (IRD) will be taxable when received by (1) the decedent's estate, (2) a person who acquires the right to receive such property, provided such right is not first acquired by the decedent's estate or (3) the legatee or devisee who acquires it through a distribution from the decedent's estate.
12] The sale, exchange, or other disposition of property can be completed by the personal representative, the trustee, an heir or devisee to whom title of the property passes directly under local law, a surviving joint tenant or tenant by the entirety, or any other person.
11] The court reasoned that the elective share vests at death by operation of local law and is, therefore, analogous to jointly owned property, life insurance, real property which directly vests in the devisee, and similar property which is not includible in the Subchapter J estate.
203(1) provides that if a person who is an "heir"(1) or is "a devisee under a will other than that being offered for probate" files a caveat, then the provisions of F.