Texas Property Code 181.082 – General Exercise
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Terms Used In Texas Property Code 181.082
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Donee: The recipient of a gift.
- Trustee: A person or institution holding and administering property in trust.
In exercising a power, a donee may make an appointment:
(1) of present, future, or present and future interests;
(2) with conditions and limitations;
(3) with restraints on alienation;
(4) of interests to a trustee for the benefit of one or more objects of the power; and
(5) that creates any right existing under common law.