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appointive property:
(1932)
1. A property interest that is subject to a power of appointment. [1]
power of appointment:
(18c)
1. A power created or reserved enabling the donee of the power to designate transferees of the property or shares in which it will be received, especially a power conferred on the donee by will or deed to select and determine one or more recipients of the donor’s estate or income. * If the power is exercisable wholly in favor of the donee’s estate. — Abbr. POA. — Often shortened to power. — aka enabling power. [1]
1. Authority enabling one person to dispose of an interest which is vested in another. Re Zanatta, 99 NJ Eq 339, 131 A 515.
A liberty or authority reserved by, or limited to, a person to dispose of real or personal property for his own benefit, or for the benefit of others, and operating on an estate or interest, vested either in himself or in some other person, such liberty or authority, however, not being derived out of such estate or interest. but overreaching or superseding it, either wholly or partially. 41 Am J2d Pow § 2.
See general power of appointment; special power of appointment. [2]
1. A power given by a person (the grantor) to another person(the donee or grantee) to select (appoint) a person or persons to receive an estate. A power of appointment may be given by deed or similar instrument, or by will.
See beneficial power; collateral power; exclusive power of appointment; general power of appointment; limited power of appointment; naked power; nonexclusive power of appointment; objects of a power; power coupled with an interest; special power of appointment; testamentary power of appointment. [3]
hybrid power of appointment – (1959) A power of appointment that has some but not all qualities in common with a general (and sometimes special) power of appointment.
limited power of appointment – (1830) A power of appointment that either does not allow the entire estate to be conveyed or restricts to whom the estate may be conveyed; especially, a power by which the donee can appoint to only the person or class specified in the instrument creating the power, but cannot appoint to oneself or one’s own estate. — Often shortened to limited power. — aka special power of appointment.
testamentary power of appointment – (1858) A power of appointment created by a will. — Often shortened to testamentary power. [1]
References:
Disclaimer: All material throughout this website is compiled in accordance with Fair Use.
[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4
[2]: Ballantine’s Law Dictionary with Pronunciations Third Edition by James A. Ballantine (James Arthur 1871-1949). Edited by William S. Anderson. © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY. Library of Congress Catalog Card No. 68-30931
[3]: Ballantine’s Law Dictionary Legal Assistant Edition
by Jack Ballantine (James Arthur 1871-1949). Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning. ISBN 0-8273-4874-6.
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