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2020 Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 27 - Uniform Powers of Appointment Act
§ 64.2-2711. Rules of classification
Universal Citation: VA Code § 64.2-2711 (2020)
A. As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
B. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
C. Only a power of appointment whose permissible appointees are defined and limited can be nonexclusionary.
2016, c. 266.
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