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2019 North Carolina General Statutes
Chapter 31D - North Carolina Uniform Powers of Appointment Act
Article 3 - Exercise of Power of Appointment.
§ 31D-3-302 - Intent to exercise; determining intent from residuary clause.
Universal Citation: NC Gen Stat § 31D-3-302 (2019)
31D-3-302. Intent to exercise; determining intent from residuary clause.
A residuary clause that does not contain a blanket-exercisable clause or specific-exercise clause manifests the power holder's intent to exercise a power of appointment only if all of the following apply:
(1) The terms of the instrument containing the residuary clause (including any valid codicil or amendment to the instrument) do not manifest a contrary intent.
(2) The power is a general power exercisable in favor of the power holder's estate.
(3) There is no gift-in-default clause or the clause is ineffective.
(4) The power holder did not release the power.
(2015-205, s. 3(a).)
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