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2019 Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 27 - Uniform Powers of Appointment Act
§ 64.2-2707. Creation of power of appointment
Universal Citation: VA Code § 64.2-2707 (2019)
A. A power of appointment is created only if:
1. The instrument creating the power:
a. Is valid under applicable law; and
b. Except as otherwise provided in subsection B, transfers the appointive property; and
2. The terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
B. Subdivision A 1 b does not apply to the creation of a power of appointment by the exercise of a power of appointment.
C. A power of appointment may not be created in a deceased individual.
D. Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.
2016, c. 266.
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