§512-1 Release of power by written instrument. Any power, including any power of appointment, whether exercisable by deed or by will or otherwise, and whether general or special, other than an imperative power, may be released, either with or without consideration, by written instrument executed by the donee and delivered as hereinafter provided or as provided in the instrument creating the power.
The power may be released as to all or any part of the property subject thereto and may be released so as to reduce or limit the persons or objects, or classes of persons or objects, in whose favor the power would otherwise be exercisable. No release shall make imperative any power which was not imperative prior to the release.
Any such release may be delivered as follows:
(1) To any person specified for such purpose in the instrument creating the power;
(2) To any trustee of the property to which the power relates;
(3) To any person, other than the donee, who could be adversely affected by the exercise of the power; or
(4) To the registrar of conveyances of the State in form suitable for recording, who shall accept the same for record upon payment of the fee provided by law. From the time of the recordation notice of the release shall be deemed to have been given all persons. [L 1947, c 126, §1; RL 1955, §198-1; HRS §512-1]