What is the term for ownership that allows property to be passed according to a will after death?

The term that describes ownership allowing property to be passed according to a will after death is known as a willed estate. This type of ownership means that when the property owner dies, their interests in the property are distributed according to their wishes as outlined in the will.

In contrast, life interest refers to a type of ownership that grants an individual the right to use and benefit from a property for the duration of their lifetime, but does not provide rights to pass the property on after death. Tenancy by the entirety is a form of joint ownership typically used by married couples, where both parties have equal ownership and rights, but again does not automatically align with the distribution of property through a will. Joint tenancy involves two or more persons owning property together, where survivors inherit the deceased owner's share, bypassing the will process altogether.

Thus, a willed estate correctly emphasizes the legal passage of property interests following an individual's death as specified in their will.