New York State Real Estate Salesperson Licensing Practice Exam

The term that refers to the process by which property is transferred through inheritance is "succession." Succession specifically describes the method by which a deceased person's estate is passed down to their heirs or beneficiaries. In this context, it encompasses the overall legal process that occurs when an individual dies and their assets need to be allocated according to their will or, if no will exists, according to the laws of intestacy.

Other terms related to inheritance include "devise" and "bequest." A devise refers specifically to the transfer of real property through a will, while a bequest pertains to the transfer of personal property. "Probate," on the other hand, is the legal process during which a will is validated and executed, ensuring that the deceased's debts are settled and assets are distributed, but it does not alone denote the act of property transfer itself. Therefore, "succession" encompasses the broader concept of inheriting property, making it the most accurate choice for this question.