30-4619. Capture doctrine: Disposition of ineffectively appointed property under general power.
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/ne/chapter-30/30-4619A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment:
(1)the gift in default clause controls the disposition of the ineffectively appointed property; or
(2)if there is no gift in default clause or to the extent the clause is ineffective, the ineffectively appointed property:
(A)passes to:
(i)the powerholder if the powerholder is a permissible appointee and living; or
(ii)if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(B)if there is no taker under subdivision
(A)of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.