Restatement of the Law of Property, as Adopted and Promulgated by the American Law Institute at Washington, D.C., May 13, 1938: Chapter 26, Powers of AppointmentAmerican Law Institute, 1938 - 228 pages |
Common terms and phrases
absolute in Blackacre allocated appoint Blackacre appointed assets appointive property appointment is ineffective B's children B's death bequeath Blackacre in fee Caveat chil claims of creditors contract contrary intent conveyance create a power declares deed default of appointment devise discretionary trust donee donee's dren erty estate in fee estate tax executors exer exercise the power fee simple abso fee simple absolute fiduciary fraudulent conveyance fund in trust gift in default heirs Illustration inferred instrument of appointment manifests an intent ment objects otherwise effectively appoints owner of Blackacre passes in default pay the income person pointee pointment power exercisable power is created power of appointment power of disposition power presently exercisable promise to appoint prop property covered provides Rationale release remainder Restatement of Trusts rule against perpetuities S. D. Comp Section applies settlor special power Statutory Note takers in default tion transfers a fund transfers Blackacre trust to pay types