§ 10-6.2 — Exercise of a power of appointment; conformity to directions of

New York § 10-6.2

• Jurisdiction: New York
• Law EPT: Estates, Powers & Trusts
• Part 6: Rules Governing Exercise of a Power of Appointment
• Art. 10: Powers

Text

§ 10-6.2 Exercise of a power of appointment; conformity to directions of\n donor\n (a) Subject to the power of a court of competent jurisdiction to\nremedy a defective execution of an imperative power of appointment, the\ndirections of the donor as to the manner, time and conditions of the\nexercise of a power must be observed, except that:\n (1) Where the donor has authorized it to be exercised by an instrument\nlegally insufficient to dispose of the appointive property, the manner\nof exercise is to be determined by the provisions of this article.\n (2) Where the donor has directed any formality to be observed in its\nexercise, in addition to those which would be legally sufficient to\ndispose of the appointive property, such additional formality is not\nnecessary to a valid exercise of such power.\n (3) Where the donor has made the power exercisable only by deed, it is\nalso exercisable by a written will unless exercise by will is expressly\nexcluded.\n (4) Where the donor of a general power of appointment has not\nexpressly imposed a requirement of good faith or of reasonableness with\nrespect to the donee's exercise of such power, neither such requirement\nshall be implied.\n