Terms Used In California Codes > Probate Code > Division 2 > Part 14 > Chapter 4 > Article 1 - Donee's Capacity

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Creating instrument: means the deed, will, trust, or other writing or document that creates or reserves the power of appointment. See California Probate Code 610
• 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 California Probate Code 610
• Powerholder: means the person to whom a power of appointment is given or in whose favor a power of appointment is reserved. See California Probate Code 610
• Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62