Requisites for exercise of power of appointment.

  1. Law
  2. New Mexico Statutes
  3. Fiduciaries and Trusts
  4. Uniform Powers of Appointment
  5. EXERCISE OF POWER OF APPOINTMENT
  6. Requisites for exercise of power of appointment.

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A power of appointment is exercised only:

A. if the instrument exercising the power is valid under applicable law; and

B. if the terms of the instrument exercising the power:

(1) manifest the powerholder's intent to exercise the power; and

(2) subject to Section 304 [46-11-304 NMSA 1978] of the Uniform Powers of Appointment Act, satisfy the requirements of exercise, if any, imposed by the donor; and

C. to the extent the appointment is a permissible exercise of the power.

History: Laws 2016, ch. 69, § 301.

ANNOTATIONS

Effective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.


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