Michigan Laws 556.113 – Powers of appointment; creation; donors, qualifications
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(1) A power may be created by any creating instrument which is executed in the manner required by law for that instrument.
(2) The donor of a power must be a person capable of transferring the interest in property to which the power relates and having a transferable interest in such property.
Terms Used In Michigan Laws 556.113
- Creating instrument: means a deed, will, trust agreement, or other writing or document that creates or reserves a power. See Michigan Laws 556.112
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- Power: means a power of appointment over property. See Michigan Laws 556.112
- Property: means any legal or equitable interest in real or personal property, including choses in action. See Michigan Laws 556.112