Nevada § 162B.350 Disposition of unappointed property under released or unexercised nongeneral power

Nevada Statutes

§ 162B.350 — Disposition of unappointed property under released or unexercised nongeneral power

Nevada § 162B.350

Title 13GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS

Ch. 162BPowers

EXERCISE OF POWER OF APPOINTMENT

This text of Nevada § 162B.350 (Disposition of unappointed property under released or unexercised nongeneral power) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 162B.350 (2026).

Text

To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment: 1. The gift-in-default clause controls the disposition of the unappointed property; or 2. If there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property:

(a)Passes to the permissible appointees if:

(1)The permissible appointees are defined and limited; and

(2)The terms of the instrument creating the power do not manifest a contrary intent; or

(b)If there is no taker under paragraph (a), passes under a reversionary interest to the donor or the donor’s transferee or successor in interest.

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To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment:
1. The gift-in-default clause controls the disposition of the unappointed property; or
2. If there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property:
(a) Passes to the permissible appointees if:
(1) The permissible appointees are defined and limited; and
(2) The terms of the instrument creating the power do not manifest a contrary intent; or
(b) If there is no taker under paragraph (a), passes under a reversionary interest to the donor or the donor’s transferee or successor in interest.