§ 621. — 621. (Added by Stats. 2016, Ch. 81, Sec. 4.)

California § 621.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 2.: DIVISION 2. GENERAL PROVISIONS
• Part 14.: PART 14. POWERS OF APPOINTMENT
• Ch. 3.: CHAPTER 3. Creation of Powers of Appointment

Text

(a)
A power of appointment is created only if all of the following are satisfied:
(1)
There is a creating instrument.
(2)
The creating instrument is valid under applicable law.
(3)
Except as provided in subdivision (b), the creating instrument transfers the appointive property.
(4)
The terms of the creating instrument manifest the donor’s intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(b)
Paragraph (3)
of subdivision (a) does not apply to the creation of a power of appointment by the exercise of a power of appointment.

Legislative History

Added by Stats. 2016, Ch. 81, Sec. 4. (AB 2846) Effective January 1, 2017.