In real estate terminology, what does it mean to devise property?

The term "devise" in real estate refers specifically to the act of transferring property through a will upon the death of the property owner. When someone devises property, they are indicating their intention to pass ownership to a designated beneficiary as outlined in their will. This legal process is fundamental in estate planning and goes into effect after the testator's death, ensuring that their property is distributed according to their wishes.

The other choices relate to different aspects of property transactions or ownership. Selling property involves a financial transaction for profit, gifting property refers to giving it away without compensation during one's lifetime, and leasing involves renting property to tenants. None of these actions involve the posthumous transfer of property, which is the key component of the term "devise."