Maine § 33 §115 Application

Maine Statutes

§ 33 §115 — Application

Maine·Title 33 PROPERTY·Ch. 5-A RULE AGAINST PERPETUITIES

1.Nonvested property interest or a power of appointment created prior to effective date of this chapter. This subsection governs nonvested property interests and powers of appointment created prior to July 1, 2019.

2.Nonvested property interest or a power of appointment created on or after July 1, 2019. Except as provided by subsection 1, paragraph D, this chapter applies to a nonvested property interest or a power of appointment that is created on or after July 1, 2019.

3.Creation by exercise of a power of appointment. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.

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1.
Nonvested property interest or a power of appointment created prior to effective date of this chapter.
This subsection governs nonvested property interests and powers of appointment created prior to July 1, 2019.
2.
Nonvested property interest or a power of appointment created on or after July 1, 2019.
Except as provided by subsection 1, paragraph D, this chapter applies to a nonvested property interest or a power of appointment that is created on or after July 1, 2019.
3.
Creation by exercise of a power of appointment.
For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.

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