California Probate Code 21206 – A general power of appointment not presently exercisable because of a …
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A general power of appointment not presently exercisable because of a condition precedent is invalid unless one of the following conditions is satisfied:
(a) When the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than 21 years after the death of an individual then alive.
Terms Used In California Probate Code 21206
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
(b) The condition precedent either is satisfied or becomes impossible to satisfy within 90 years after its creation.
(Added by Stats. 1991, Ch. 156, Sec. 24.)