Virginia Code 64.2-2709: Presumption of unlimited authority.
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Subject to § 64.2-2711, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:
Terms Used In Virginia Code 64.2-2709
- 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
1. Presently exercisable;
2. Exclusionary; and
3. Except as otherwise provided in § 64.2-2710, general.
2016, c. 266.