Va. Code § 64.2-2713

Current with changes from the 2024 legislative session through ch. 845

Section 64.2-2713 - Requisites for exercise of power of appointment

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.

Va. Code § 64.2-2713

2016, c. 266.

Added by Acts 2016 c. 266, § 1, eff. 7/1/2016.