Power to contract; power of appointment not presently exercisable.

  1. Law
  2. New Mexico Statutes
  3. Fiduciaries and Trusts
  4. Uniform Powers of Appointment
  5. DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT
  6. Power to contract; power of appointment not presently exercisable.

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A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:

A. is also the donor of the power; and

B. has reserved the power in a revocable trust.

History: Laws 2016, ch. 69, § 406.

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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