A bequest is the act of giving (not the act of receiving) property by will. Strictly, "bequest" is used of personal property, and "devise" of real property. In legal terminology, "bequeath" is a verb form meaning "to make a bequest."
(From Old English becwethan, to declare or express in words; cf. "quoth".)
Read more about Bequest: Interpreting Bequests, Explaining Bequests