Virginia Code 64.2-2705: Governing law.
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Unless the terms of the instrument creating a power of appointment manifest a contrary intent:
Terms Used In Virginia Code 64.2-2705
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Instrument: means a record. See Virginia Code 64.2-2700
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Virginia Code 64.2-2700
- Powerholder: means a person in which a donor creates a power of appointment. See Virginia Code 64.2-2700
1. The creating, revocation, or amendment of the power is governed by the law of the donor‘s domicile at the relevant time; and
2. The exercise, release, or disclaimer of the power, or the revocation or amendment of the exercise, release, or disclaimer of the power is governed by the law of the powerholder‘s domicile at the relevant time.
2016, c. 266.