Utah Code 75A-4-401. Disclaimer
Current as of: 2024 | Check for updates
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As provided by Section
(1) A powerholder may disclaim all or part of a power of appointment.
Terms Used In Utah Code 75A-4-401
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Utah Code 75A-4-102
- Appointive property: means the property or property interest subject to a power of appointment. See Utah Code 75A-4-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an interest in, or another power of appointment over, the appointive property. See Utah Code 75A-4-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75A-4-102
- Taker in default of appointment: means a person that takes all or part of the appointive property to the extent the powerholder does not effectively exercise the power of appointment. See Utah Code 75A-4-102
(2) A permissible appointee, an appointee, or a taker in default of appointment may disclaim all or part of an interest in appointive property.