There is a newer version
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the New York Laws
2018 New York Laws
EPT - Estates, Powers and Trusts
Article 10 - Powers
Part 3 - Varieties of Powers
10-3.3 - Classification of Powers of Appointment as to Time of Exercise; Presently Exercisable, Testamentary and Postponed
Universal Citation: NY Est Pow & Trusts L § 10-3.3 (2018)
§ 10-3.3 Classification of powers of appointment as to time of exercise;presently exercisable, testamentary and postponed
(a) A power of appointment, as to the time of its exercise, is either presently exercisable, testamentary or postponed.
(b) A power of appointment is presently exercisable if it may be exercised by the donee, during his lifetime or by his written will, at any time after its creation, and does not include a postponed power as described in paragraph (d).
(c) A power of appointment is testamentary if it is exercisable only by a written will of the donee.
(d) A power of appointment is postponed if it is exercisable by the donee only after the expiration of a stated time or after the occurrence or non-occurrence of a specified event.
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