Sec. 45a-492. When nonvested property interest or power of appointment created.
173 words·~1 min read·
/ct/title-45a/chapter-802c-trusts/45a-492·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as provided in subsections
(b)and
(c)of this section and in subsection
(a)of section 45a-495 , the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.
(b)For purposes of sections 45a-490 to 45a-496 , inclusive, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of
(1)a nonvested property interest or
(2)a property interest subject to a power of appointment described in subsection
(b)or
(c)of section 45a-491 , the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
(c)For purposes of sections 45a-490 to 45a-496 , inclusive, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.