Minnesota Statutes 502.81 – Definitions
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Subdivision 1.Application.
The terms defined in this section apply to this chapter.
Subd. 2.Appointee.
Terms Used In Minnesota Statutes 502.81
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Power: means an authority to do any act in relation to property, including the creation or revocation of an estate therein or a charge thereon, that the donor of the power might do, except that the term, as used in this chapter, does not apply to a power of attorney to convey property in the name of the owner. See Minnesota Statutes 502.81
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Terms Used In Minnesota Statutes 502.81
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Power: means an authority to do any act in relation to property, including the creation or revocation of an estate therein or a charge thereon, that the donor of the power might do, except that the term, as used in this chapter, does not apply to a power of attorney to convey property in the name of the owner. See Minnesota Statutes 502.81
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
“Appointee” means the person in whose favor a power of appointment is exercisable.
Subd. 3.Appointive property.
“Appointive property” means property which is the subject of a power of appointment.
Subd. 4.Donee.
“Donee” means the person to whom a power is given or in whose favor a power is reserved.
Subd. 5.Donor.
“Donor” means the person who creates or reserves a power.
Subd. 6.Power.
“Power” means an authority to do any act in relation to property, including the creation or revocation of an estate therein or a charge thereon, that the donor of the power might do, except that the term, as used in this chapter, does not apply to a power of attorney to convey property in the name of the owner.