Utah Code > Title 75 > Chapter 10 > Part 5 – Rights of Powerholder’s Creditors in Appointive Property
Current as of: 2023 | Check for updates
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Other versions
§ 75-10-501 | Creditor claim — General power created by powerholder |
§ 75-10-502 | Creditor claim — Power not created by powerholder |
§ 75-10-503 | Power to withdraw |
Terms Used In Utah Code > Title 75 > Chapter 10 > Part 5 - Rights of Powerholder's Creditors in Appointive Property
- Appointive property: means the property or property interest subject to a power of appointment. See Utah Code 75-10-102
- Decedent: A deceased person.
- General power of appointment: means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. See Utah Code 75-10-102
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Nongeneral power of appointment: means a power of appointment that is not a general power of appointment. See Utah Code 75-10-102
- Person: means an individual, estate, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity. See Utah Code 75-10-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an interest in, or another power of appointment over, the appointive property. See Utah Code 75-10-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75-10-102
- Property: includes both real and personal property. See Utah Code 68-3-12.5