District of Columbia § 19-902 When nonvested property interest or power of appointment is created.

District of Columbia Statutes

§ 19-902 — When nonvested property interest or power of appointment is created.

District of Columbia·Title 19 Descent, Distribution, and Trusts. [Enacted title]·Ch. 9 Statutory Rule Against Perpetuities; Uniform Law.

(a)Except as provided in subsections (b) and (c) of this section and in section 19-905(a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.

(b)For purposes of this chapter, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of a nonvested property interest or a property interest subject to a power of appointment described in section 19-901(b) or (c), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.

(c)For purposes of this chapter, a nonvested property interest or a power of appointment arising from a transfer of property to a previously

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as provided in subsections (b) and (c) of this section and in section 19-905(a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.

(b) For purposes of this chapter, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of a nonvested property interest or a property interest subject to a power of appointment described in section 19-901(b) or (c), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.

(c) For purposes of this chapter, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.

District of Columbia § 19-902 (When nonvested property interest or power of appointment is created.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.