Where an absolute power of disposition not accompanied by any trust is given to the owner of a particular estate for life or years, such estate is changed into a fee, absolute in favor of creditors, purchasers, or encumbrancers, but subject to any future estates limited thereon in case the power should not be executed or the property should not be sold for the satisfaction of debts.

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Source: CivC 1877, § 336; CL 1887, § 2852; RCivC 1903, § 359; RC 1919, § 426; SDC 1939, § 59.0439.