Virginia § 64.2-2722 Disposition of unappointed property under released or unexercised general power

Virginia Statutes

§ 64.2-2722 — Disposition of unappointed property under released or unexercised general power

Virginia § 64.2-2722

JurisdictionVirginia

Title 64.2WILLS, TRUSTS, AND FIDUCIARIES

Subtitle VPROVISIONS APPLICABLE TO PROBATE AND NONPROBATE TRANSFERS

Ch. 27UNIFORM POWERS OF APPOINTMENT ACT

Art. 3EXERCISE OF POWER OF APPOINTMENT

This text of Virginia § 64.2-2722 (Disposition of unappointed property under released or unexercised general power) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 64.2-2722 (2026).

Text

To the extent that a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust: 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 that the clause is ineffective: a. Except as otherwise provided in subdivision 2 b, the unappointed property passes to:

(1)The powerholder if the powerholder is a permissible appointee and living; or

(2)If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or b. To the extent that the powerholder released the power, or if there is no taker under subdivision 2 a, the unappointed property passes under a r

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To the extent that a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust:

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 that the clause is ineffective:

a. Except as otherwise provided in subdivision 2 b, the unappointed property passes to:

(1) The powerholder if the powerholder is a permissible appointee and living; or

(2) If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or

b. To the extent that the powerholder released the power, or if there is no taker under subdivision 2 a, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.