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Devisee

DEFINITION

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EXPLANATION

The devisee is the party to whom the property is being transferred. Devisees are more commonly referred to as the beneficiary.

While alive, the testator has the right to make amendments to his or her will by way of a document called a codicil. The property remains the possession of the testator until his or her death, at which point the property gets transferred to a devisee. A devisee has no control of the property until the devisor dies.

Devisee in Probate

Estate property is split between heirs and devisees. Representatives, attorneys, and others involved in the probate court process are entitled to reasonable fees that must be approved by the court. After paying off the government, creditors, and completing the process of selling and or transferring assets, the remaining money becomes the property of the heirs and beneficiaries.

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