(a) Except as provided in subdivision (b), this part applies to nonvested property interests and unexercised powers of appointment regardless of whether they were created before, on, or after January 1, 1992.

(b) This part does not apply to any property interest or power of appointment the validity of which has been determined in a judicial proceeding or by a settlement among interested persons.

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Terms Used In California Probate Code 21202

  • Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

(Added by Stats. 1991, Ch. 156, Sec. 24.)

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