A transfer of real property by virtue of the provisions in a will. Contrast with descent, which is a transfer by virtue of statutory provisions controlling ownership of real estate when one dies without a will.
It suggests that an unexpected inflationary component has now insinuated itself into the consensual econometric models devised by theoreticians, inasmuch as barbers such as Flynn are now imposing what is essentially a "punitive" tax on their customers to compensate for their own misfortunes.
In Enlightenment times, Roy Porter points out, although a personal Providence was commonly accepted, people did try to prevent accidents - taking care, rationally - and devised such social institutions as insurance and hospitals to try to repair the damage.
This rule would appear to prevent an estate from deducting a loss even if title to the residence was in the decedent's sole name and the property was specifically devised. However, the memorandum states that, although estate representatives have no control over such property, they have the power to sell it if other assets passing under other types of dispositions have been exhausted.