Utah Code 75A-4-311. Disposition of unappointed property under released or unexercised nongeneral power
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To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(1) the gift-in-default clause controls the disposition of the unappointed property; or
Terms Used In Utah Code 75A-4-311
- Donor: The person who makes a gift.
- Donor: means a person that creates a power of appointment. See Utah Code 75A-4-102
- Gift-in-default clause: means a clause identifying a taker in default of appointment. See Utah Code 75A-4-102
- Instrument: means a record. See Utah Code 75A-4-102
- Nongeneral power of appointment: includes a special power of appointment, a limited power of appointment, or similar terminology that is used in an instrument creating a power that does not grant powers making it a general power of appointment. See Utah Code 75A-4-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75A-4-102
- Property: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102
(2) if there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property:
(2)(a) passes to the permissible appointees if:
(2)(a)(i) the permissible appointees are defined and limited; and
(2)(a)(ii) the terms of the instrument creating the power do not manifest a contrary intent; or
(2)(b) if there is no taker under Subsection (2)(a), passes under a reversionary interest to the donor or the donor‘s transferee or successor in interest.