Which of the following describes a devise?

A devise refers specifically to a gift or transfer of real property through a will. In the context of estate law, when someone bequeaths real estate to an heir or beneficiary, this act is termed a devise. It is an important concept in real estate and estate planning, as it dictates how property ownership is passed on after an individual’s death.

The other options represent different legal or financial concepts. A formal legal document encompasses a wide range of paperwork used in legal settings, while a type of financial claim pertains to rights to seek payment or recovery of assets rather than the transfer of property itself. An estate planning strategy outlines how to manage an individual’s assets and wishes during and after their lifetime, rather than specifying the method by which real property is transferred. Therefore, defining a devise accurately as a gift of real property via a will aligns precisely with its legal meaning and usage.