California Probate Code 21211 – For purposes of this chapter:(a) If there is a person who alone …
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For purposes of this chapter:
(a) If there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of (1) a nonvested property interest or (2) a property interest subject to a power of appointment described in Section 21206 or 21207, the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
Terms Used In California Probate Code 21211
- Community property: means :
California Probate Code 28
- Instrument: means a will, a document establishing or modifying a trust, a deed, or any other writing that designates a beneficiary or makes a donative transfer of property. See California Probate Code 45
- Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
- 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
(b) A joint power with respect to community property held by individuals married to each other is a power exercisable by one person alone.
(Added by Stats. 1991, Ch. 156, Sec. 24.)