Virginia § 64.2-2741 Application to existing relationships

Virginia Statutes

§ 64.2-2741 — Application to existing relationships

Virginia § 64.2-2741

JurisdictionVirginia

Title 64.2WILLS, TRUSTS, AND FIDUCIARIES

Subtitle VPROVISIONS APPLICABLE TO PROBATE AND NONPROBATE TRANSFERS

Ch. 27UNIFORM POWERS OF APPOINTMENT ACT

Art. 6MISCELLANEOUS PROVISIONS

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Bluebook

Va. Code Ann. § 64.2-2741 (2026).

Text

A.Except as otherwise provided in this chapter, on and after July 1, 2016:

1.This chapter applies to a power of appointment created before, on, or after July 1, 2016;

2.This chapter applies to a judicial proceeding concerning a power of appointment commenced on or after July 1, 2016;

3.This chapter applies to a judicial proceeding concerning a power of appointment commenced before July 1, 2016, unless the court finds that application of a particular provision of this chapter would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of this chapter does not apply and the superseded law applies;

4.A rule of construction or presumption provided in this chapter applies to an instrument ex

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A. Except as otherwise provided in this chapter, on and after July 1, 2016:

1. This chapter applies to a power of appointment created before, on, or after July 1, 2016;

2. This chapter applies to a judicial proceeding concerning a power of appointment commenced on or after July 1, 2016;

3. This chapter applies to a judicial proceeding concerning a power of appointment commenced before July 1, 2016, unless the court finds that application of a particular provision of this chapter would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of this chapter does not apply and the superseded law applies;

4. A rule of construction or presumption provided in this chapter applies to an instrument executed before July 1, 2016, unless there is a clear indication of a contrary intent in the terms of the instrument; and

5. Except as otherwise provided in subdivisions 1 through 4, an action done before July 1, 2016, is not affected by this chapter.

B. If a right is acquired, extinguished, or barred on the expiration of a prescribed period that commenced under law of the Commonwealth other than this chapter before July 1, 2016, the law continues to apply to the right.