Bequest, * A gift by last will or testament; a legacy. (q. v.) This word is sometimes, though improperly used, as synonymous with devise. There is, however, a distinction between them. A bequest is applied, more properly, to a gift by will of a legacy, that is, of personal property; devise is properly a gift by testament of real property. Vide Devise.

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Note added at 1 hr (2011-09-17 17:13:37 GMT)
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Bequest Law & Legal Definition
http://law.yourdictionary.com/bequest
A bequest is a gift of personal property, as opposed to real property, made in a will. Personal property is generally any movable item. It is also referred to as a legacy. There are different types of bequests that may be made in the terms of a will. Bequests may be "conditional" upon the happening or non-happening of an event, or "executory" in which the gift is contingent upon a possible or certain future event. Bequest can be of specific assets or of the "residue" (what is left after specific gifts, general gifts, and payment of debts have been made).