§ 64.2-2713 — Requisites for exercise of power of appointment

Virginia § 64.2-2713

• Jurisdiction: Virginia
• Title 64.2: WILLS, TRUSTS, AND FIDUCIARIES
• Subtitle V: PROVISIONS APPLICABLE TO PROBATE AND NONPROBATE TRANSFERS
• Ch. 27: UNIFORM POWERS OF APPOINTMENT ACT
• Art. 3: EXERCISE OF POWER OF APPOINTMENT

Text

A power of appointment is exercised only:

1. If the instrument exercising the power is valid under applicable law;

2. If the terms of the instrument exercising the power:

a. Manifest the powerholder's intent to exercise the power; and

b. Subject to § 64.2-2716, satisfy the requirements of exercise, if any, imposed by the donor; and

3. To the extent that the appointment is a permissible exercise of the power.

Legislative History

2016, c. 266.