New Mexico Statutes 45-2-608. Exercise of power of appointment
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In the absence of a requirement that a power of appointment be exercised by a reference or by an express or specific reference to the power, a general residuary clause in a will or a will making general disposition of all of the testator‘s property expresses an intention to exercise a power of appointment held by the testator only if:
Terms Used In New Mexico Statutes 45-2-608
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Testator: A male person who leaves a will at death.
A. the power is a general power exercisable in favor of the powerholder’s estate and the creating instrument does not contain an effective gift if the power is not exercised; or
B. the testator’s will manifests an intention to include the property subject to the power.