2014 Virginia Code
Title 64.2 - Wills, Trusts, and Fiduciaries
§ 64.2-2702. Manner of effecting release
A release of a power, whether partial or complete, shall be valid and effective, with or without a consideration, when the donee executes an instrument evidencing his intent to make the release that is signed and acknowledged in the manner prescribed for the execution of deeds and delivers the instrument or causes it to be delivered as follows:
1. To an adult person who may take any of the property that is subject to the power in the event of its nonexercise or to one in whose favor it may be exercised after such partial release;
2. To any trustee or any cotrustee of the property that is subject to the power; or
3. By recording the instrument in the clerk's office that is designated for the recordation of deeds in the county or city in which any of the property is located, in which either the donee or the trustee in control of the property resides, in which the trustee has its principal office, or in which the instrument creating the power is probated or recorded.
1944, p. 67; Michie Suppl. 1946, § 5440(3); Code 1950, § 55-280; 2012, c. 614.
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