Disposition of unappointed property under released or unexercised nongeneral power.

  1. Law
  2. Nevada Revised Statutes
  3. Powers of Appointment (Uniform Act)
  4. Disposition of unappointed property under released or unexercised nongeneral power.

Checkout our iOS App for a better way to browser and research.

To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment:

1. The gift-in-default clause controls the disposition of the unappointed property; or

2. If there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property:

(a) Passes to the permissible appointees if:

(1) The permissible appointees are defined and limited; and

(2) The terms of the instrument creating the power do not manifest a contrary intent; or

(b) If there is no taker under paragraph (a), passes under a reversionary interest to the donor or the donor’s transferee or successor in interest.

(Added to NRS by 2017, 1377)


Download our app to see the most-to-date content.