North Carolina General Statutes 31A-10. Powers of appointment and revocation
Terms Used In North Carolina General Statutes 31A-10
- Decedent: A deceased person.
- Decedent: means the person whose life is taken by the slayer as defined in subdivision (3) of this section. See North Carolina General Statutes 31A-3
- Property: means any real or personal property and any right or interest therein. See North Carolina General Statutes 31A-3
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Slayer: means any of the following:
- Statute: A law passed by a legislature.
(a) As to any exercise in the will of the decedent of a power of appointment in favor of the slayer, the slayer shall be deemed to have predeceased the decedent and the slayer shall not acquire any property or receive any benefit by virtue of such appointment and the appointed property shall pass in accordance with the applicable lapse statute, if any.
(b) Property held either presently or in remainder by the slayer subject to be divested by the exercise by the decedent of a power of revocation or a general power of appointment shall pass to the estate of the decedent; and property so held by the slayer subject to be divested by the exercise by the decedent of a power of appointment to a particular person or persons or to a class of persons shall pass to such person or persons or in equal shares to the members of such class of persons, exclusive of the slayer. (1961, c. 210, s. 1.)