Georgia § 44-6-202 Time of creation of nonvested property interest or power of appointment

Georgia Statutes

§ 44-6-202 — Time of creation of nonvested property interest or power of appointment

Georgia § 44-6-202

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This text of Georgia § 44-6-202 (Time of creation of nonvested property interest or power of appointment) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 44-6-202 (2026).

Text

(a)Except as provided in subsections (b) and (c) of this Code section and in subsection (a) of Code Section 44-6-205 , 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 article, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of:

(1)A nonvested property interest; or (2) A property interest subject to a power of appointment described in subsection (b) or (c) of Code Section 44-6-201 , 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 article, a nonvested property interest or a power of appo

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(a) Except as provided in subsections (b) and (c) of this Code section and in subsection (a) of Code Section 44-6-205 , 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 article, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of: (1) A nonvested property interest; or (2) A property interest subject to a power of appointment described in subsection (b) or (c) of Code Section 44-6-201 , 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 article, 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.