Iowa Code 559.2 – Definition — scope of power
Current as of: 2023 | Check for updates
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The term “power to appoint” as used in this chapter, shall mean and include all powers which are in substance and effect powers of appointment, regardless of the language used in creating them and whether they are:
1. General, special, or otherwise.
Terms Used In Iowa Code 559.2
- Fiduciary: A trustee, executor, or administrator.
- property: includes personal and real property. See Iowa Code 4.1
2. Vested, contingent, or conditional.
3. In gross, appendant, simply collateral, in trust or in the nature of a trust or otherwise.
4. Exercisable by an instrument amending, revoking, altering, or terminating a trust or an estate, or an interest thereunder or otherwise.
5. Exercisable presently or in the future.
6. Exercisable in an individual or a fiduciary capacity whether alone or in conjunction with one or more other persons or corporations.
7. Powers to invade or consume property.
8. Powers remaining after one or more partial releases have heretofore or hereafter been made with respect to a power to appoint.