Virginia § 64.2-2711 Rules of classification

Virginia Statutes

§ 64.2-2711 — Rules of classification

Virginia § 64.2-2711

JurisdictionVirginia

Title 64.2WILLS, TRUSTS, AND FIDUCIARIES

Subtitle VPROVISIONS APPLICABLE TO PROBATE AND NONPROBATE TRANSFERS

Ch. 27UNIFORM POWERS OF APPOINTMENT ACT

Art. 2CREATION, REVOCATION, AND AMENDMENT OF POWER OF APPOINTMENT

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Bluebook

Va. Code Ann. § 64.2-2711 (2026).

Text

A.As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.

B.If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

C.Only a power of appointment whose permissible appointees are defined and limited can be nonexclusionary.

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A. As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.

B. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

C. Only a power of appointment whose permissible appointees are defined and limited can be nonexclusionary.