Rhode Island General Laws 34-22-4. Means of releasing or contracting not to exercise power
Any power of appointment or power of apportionment or any other power, whether or not coupled with an interest, unless it is otherwise expressly provided by the terms of the power, may be released in whole or in part by the donee or donees of the power, or the donee or donees of the power may contract not to exercise the power in whole or in part. After the release or contract, the power may be exercised by the other or others, if any, or the survivors or survivor of the others, of the persons to whom the power is given, unless the contrary is expressed in the instrument creating the power. This section shall apply to all powers of appointment and powers of apportionment and all other powers, whether created before or after the original enactment of this section. Notwithstanding any other provisions of law, the release or contract shall be valid and effective according to its terms when signed by the releasor, or by the contracting party, as the case may be, and delivered to any other person having any legal or equitable interest, vested or contingent, in the property subject to the power; provided, however, that if the property, or any part thereof, shall consist of real estate situated in this state, the release or contract shall not take effect with respect to the real estate unless and until the release or contract shall be acknowledged and recorded in the records of land evidence in the town or city in which the real estate, or some part thereof, is situated.
History of Section.
G.L. 1938, ch. 488, § 5; P.L. 1943, ch. 1348, § 1; P.L. 1944, ch. 1486, § 2; G.L. 1956, § 34-22-4.
Terms Used In Rhode Island General Laws 34-22-4
- Contract: A legal written agreement that becomes binding when signed.
- Donee: The recipient of a gift.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9