by Ethan Atkinson | Feb 4, 2026 | A-E, PropertyPedia, Real Estate
In real estate, a Devisor is a person who transfers or disposes of real property through a valid will. The devisor is the property owner who makes the will and specifies how their real estate is to be distributed upon their death. The devisor retains full ownership...
by Ethan Atkinson | Feb 4, 2026 | A-E, PropertyPedia, Real Estate
In real estate, a Devisee is the person or entity that receives title to real property through a valid will. The devisee is named by the deceased property owner (the testator) and becomes entitled to the property upon the testator’s death, subject to the probate...
by Ethan Atkinson | Feb 4, 2026 | A-E, PropertyPedia, Real Estate
In real estate, Devise refers to the transfer of real property through a valid will upon the death of the property owner. When a person dies testate (with a will), the real estate specified in the will is devised to the named beneficiary, known as the devisee,...
by Ethan Atkinson | Feb 4, 2026 | A-E, PropertyPedia, Real Estate
In real estate, a Determinable Fee (often called a fee simple determinable) is a type of defeasible estate in which ownership automatically ends if a specified condition or event occurs. The estate is typically created using conditional language such as “so long as,”...
by Ethan Atkinson | Feb 4, 2026 | A-E, PropertyPedia, Real Estate
In real estate, Depreciation refers to the loss in value of a property over time due to factors such as physical wear and tear, aging, functional obsolescence (outdated design or features), or economic obsolescence caused by external influences like neighborhood...
by Ethan Atkinson | Feb 4, 2026 | A-E, PropertyPedia, Real Estate
In real estate, Depreciable Life is a tax term that refers to the period of time over which a property or asset is allowed to be depreciated for income tax purposes. It represents the number of years the IRS assigns to an asset to recover its cost through annual...
