North Dakota § 47-02-27.2 When contingent property interest or power of appointment created

North Dakota Statutes

§ 47-02-27.2 — When contingent property interest or power of appointment created

North Dakota § 47-02-27.2

Title 47Property

Ch. 47-02Classification of Ownership

This text of North Dakota § 47-02-27.2 (When contingent property interest or power of appointment created) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 47-02-27.2 (2026).

Text

1.Except as provided in subsections 2 and 3 of this section and in subsection 1 of section 47-02-27.5, the time of creation of a contingent property interest or a power of appointment is determined under general principles of property law.

2.For purposes of sections 47-02-27.1 through 47-02-27.5, if there is a person who alone can exercise a power created by a governing instrument to become an unqualified beneficial owner of a contingent property interest or a property interest subject to a power of appointment described in subsection 2 or 3 of section 47-02-27.1, the contingent property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.

3.For purposes of sections 47-02-27.1 through 47-02-27.5, a contingent property interest

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1. Except as provided in subsections 2 and 3 of this section and in subsection 1 of
section 47-02-27.5, the time of creation of a contingent property interest or a power of
appointment is determined under general principles of property law.
2. For purposes of sections 47-02-27.1 through 47-02-27.5, if there is a person who
alone can exercise a power created by a governing instrument to become an
unqualified beneficial owner of a contingent property interest or a property interest
subject to a power of appointment described in subsection 2 or 3 of section
47-02-27.1, the contingent property interest or power of appointment is created when
the power to become the unqualified beneficial owner terminates.
3. For purposes of sections 47-02-27.1 through 47-02-27.5, a contingent 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 contingent property
interest or power of appointment in the original contribution was created.